The euro is falling under pressure from the dollar and weak economic data

On Wednesday, the euro continued its decline, reaching its lowest level since the beginning of July. The European currency was most strongly influenced by the strengthening of the dollar, which shows steady growth. The current quote of the EUR/USD pair is $1,0774.

In addition, weak economic indicators in the eurozone and expectations of further rate cuts by the European Central Bank are putting additional pressure on the single currency. According to analysts, ECB officials are actively discussing the possibility of lowering interest rates to stimulate the economy.

The fall of the euro is also reflected in its decline against the British pound, which, according to experts, demonstrates a stronger position against the background of internal factors affecting its exchange rate.

At the same time, the USD index reached the low of the end of July in recent trading, showing an increase of almost 0.5% during the day.