EUR/USD Slides to 10-Week Low - NewsBreak

The euro is in negative territory for a second straight day. Currently, EUR/USD is trading at 1.1538, down 0.51% on the day. The euro started the week with gains and pushed up the 11.6 line, but dovish comments from ECB President Christine Lagarde put a lid on any hope of a rally, and EUR/USD is now closing in on the 1.15 level. Lagarde dismissed any expectations of a rate hike from the ECB, saying that it would not have any effect in the current environment of high commodity prices. In September, Lagarde dismissed the notion of a taper by the Bank, stating "the lady isn't tapering".