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EUR/USD falls as euro stress hits spreads and banks

Deutsche Bank linked the euro's drop to widening European credit spreads and a selloff in bank stocks, alongside growing doubts about another ECB rate hike this year.

Reported · Written up by our desk · Major Pairs

Deutsche Bank analysts cited widening European spreads and a selloff in bank stocks as factors weighing on EUR/USD, according to FXStreet.

The euro fell sharply versus the dollar, while markets questioned whether the European Central Bank can deliver another rate hike later this year, the analysis said.

FXStreet also noted USD was retreating from 17-month highs as traders took profits ahead of the US Nonfarm Payrolls report, while EUR weakness persisted amid euro-area stress themes.

Latest closeEUR/USD 1.133 ▼0.3%

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