World Economy

Euro Falls, Pound Rallies

Euro Falls, Pound RalliesEuro Falls, Pound Rallies

Euro fell sharply, extending its recent losing streak to five, ahead of the release of the Federal Open Market Committee’s minutes from its July meeting on Wednesday afternoon, reported. EUR/USD has erased all of its gains in the five successive sessions to close below 1.11 for the third consecutive day. Still, the euro remains up against its American counterpart by more than 1.8% over the last month of trading, as investors continue to price in a possible interest rate hike by the Federal Reserve during its next FOMC meeting in mid-September.