Euro Tumbles to Monthly Low Ahead of Fed's Interest Rate Decision

The Euro has fallen to its monthly low against the US Dollar at around 1.1362 during early European trading on Tuesday.

This comes as investors await the Federal Reserve's (Fed) monetary policy announcement on Wednesday, with a strong expectation that interest rates will remain unchanged in the range of 3.50%-3.75%.

The CME FedWatch tool shows a 62% chance that the Fed will maintain the status quo, while also indicating an 80.8% probability of delivering an interest rate hike in the next policy meeting in September.