Investing.com – The euro fell to the lowest levels in two months on Wednesday after disappointing euro zone economic data, sending the dollar broadly higher against a currency basket.
EUR/USD was down 0.5% to 1.1414 by 04:42 AM ET (08:42 AM GMT), the weakest level since August 20.
The euro was also weaker against the yen, with EUR/JPY down 0.51% to 128.33.
The euro extended losses after data showing that euro zone private sector activity grew at the slowest pace in more than two years in October, as an export-led slowdown widened out to the service sector.
The data highlighted concerns over the economic impact of tariffs and trade wars.
Italy also remained in focus a day after the European Union took the unprecedented step of rejecting Rome’s 2019 draft budget, giving the government three weeks to resubmit a revised budget plan.