Fresh Euro Trends: Currency Shifts Uncovered

In Friday’s New York session, the euro started off on a downward swing against some of the world’s key currencies. It dipped to 1.5680 versus the Canadian dollar (“loonie”), sliding from an early near-five-year peak of 1.5933. Similarly, against the New Zealand dollar (“kiwi”) and the Australian dollar (“aussie”), the euro dropped to 1.9415 and 1.7978, respectively, after reaching session highs of 1.9757 and 1.8448.

Over in Britain, the euro slipped down to 0.8646 against the pound, retreating from a 1-1/2-year high of 0.8738. Meanwhile, the Swiss franc wasn’t any prettier: the euro touched 0.9224, nearly matching its nearly five-month low of 0.9219.

Moving forward, experts suggest there might be further room for decline. They’re eyeing potential target levels of roughly 1.55 against the loonie, 1.82 vs. the kiwi, 1.67 compared to the aussie, 0.84 with the pound, and 0.92 relative to the franc.