The European currency extended its 2-day losing streak against the US dollar in early European deals on Monday, falling back to below the key 1.29 level for the first time since April 4.
The euro-buck pair thus depreciated by more than 2.6 percent from its peak 1.3242 hit on 1 May, to reach as low as 1.2891 around 3:05 am ET. The next major support for the pair is seen around the 1.28 level.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.