EURO GOES SPLAT, NOW WELL UNDER $1.23

UPDATE (11:59 AM ET): The euro has fallen well below $1.23, its lowest value since July 2010.

It’s been falling pretty much since the U.S. non-farm payrolls number came out. Dollar strength here could be partly due to the fact that we’re not likely to see another round of quantitative easing announced at the Federal Reserve’s next policy decision on August 1.

The euro seemed to overcome earlier resistance at $1.23, breaking an important benchmark and signaling continued ag nst about the state of the European economy.

Yikes:

eur/usd

Photo: DailyFX

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