Session Recap: EUR/USD breaks below 1.0700, first time in 12 years

FXStreet (Córdoba) - Dollar strength and falling stocks were the main theme of the session, as in the absence of first-tier data, investors increase bets the Federal Reserve might begin to rise rates in June.

Meanwhile renewed concerns about Greece and ECB bond-buying program also weighed on the shared currency, which printed its lowest level since April 2003 at 1.0692 versus the dollar. EUR/GBP fell to a 7-year low of 0.7091, while EUR/JPY bottomed out at 129.66, last seen August 2013.

AUD/USD fell to 5-year lows but managed to hold barely above 0.7600, while USD/CAD rose to a 1-month high of 1.2680. USD/CHF tasted parity but failed to confirm a break.

Despite broad greenback’s gains, GBP/USD managed to steady in a range around 1.5050-70, while USD/JPY was trading little changed on the day at 121.10, after being rejected from a new 7-year high of 122.01.

Elsewhere, US stocks ended sharply lower with the DJIA falling 1.9% while the S&P 500 and the Nasdaq fell 1.7% each.

Main Headlines in America:

WTI slumps to $48.50

EUR/USD back below 1.0700 at 12-year lows

Gold regains $1,160

US stocks end sharply lower