The euro just tumbled to a 7-month low against the dollar

euro just tumbled to a seven-month low against the dollar.

The currency is down by 0.3% at 1.0939 against the greenback as of 10:10 a.m. ET.

Earlier in the day, the European Central Bank
held all of its main rates unchanged. The central bank kept its refinancing rate remaining at 0% and the key deposit rate at -0.4%.

The bank added it expects “interest rates to remain at present or lower levels for an extended period of time.”

Somewhat notably, the bank’s press release was completely unchanged in its wording for the third consecutive meeting — aside from the date.

As for the rest of the world, here’s the scoreboard as of 9:58 a.m. ET:

  • The US dollar indexis up by 0.2% at 98.13 following data showing that initial claims increased 13,000 to a seasonally adjusted 260,000 for the week ended Oct. 15. Notably, part of the increase in claims last week could be related to the effects of Hurricane Matthew, which lashed the Southeast of the country, causing severe flooding.
  • The Australian dollar is down by 0.9% at .7657 per dollar following a disappointing jobs report. Australia’s economy lost 9,800 jobs in September, which was far worse than the addition of the 15,200 jobs that economists had forecast. However, it’s possible that the big miss could be the result of census volatility.
  • The British pound is down by 0.5% at 1.2235 against the dollar. The currency has been on a wild ride over the last 24 hours, rising after UK unemployment figures, then tumbling, then slightly recovering this morning, and then tumbling again.
  • The Mexican peso spiked after the final presidential debate ended after fumbling around for an hour and a half in the range of little changed to down by 0.2% against the greenback. It is now down by 0.2% at 18.5607 per dollar.
  • The Russian ruble is little changed at 62.3292 per dollar, while Brent crude prices, the international benchmark, are down by 1.9% at $51.66 per barrel.
  • The Japanese yen is down by 0.4% at 103.82 per dollar

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