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Forex

Euro Hits Three-Month Low Against USD in Turkey

Guavy AI Editorial Team
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The euro has hit a three-month low against the US dollar in Turkey, falling by 0.3% to $1.1332 per euro on September 29.

This marks the lowest level since June 24, when the EUR/USD pair traded at 1.1324.

The European currency has been affected by expectations of tighter US Federal Reserve policy to curb inflation and rising energy prices in Europe.

Piotr Matys, a senior currency analyst at In Touch Capital Markets, notes that the widening yield differential in favor of the dollar is putting pressure on the EUR/USD pair.

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