The euro hit its lowest level this year, falling to $1.0676, amid expectations that the ECB will cut interest rates ahead of the Fed.

The euro fell significantly against the dollar to its weakest level since November. This decline comes amid expectations that the European Central Bank will cut interest rates ahead of the Federal Reserve. ECB officials confirmed that they are not deterred by the more cautious outlook in the US, which has led to speculation of a possible interest rate cut in June.