Euro Is Set for Worst Streak in Five Months on ECB Rate-Cut Bets
- Common currency retreats as ECB officials endorse October cut
- Money markets narrow gap between ECB and Fed on path for rates
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The euro is poised for its longest losing streak since April as traders bet on an increasingly aggressive path for interest-rate cuts by the European Central Bank.
The common currency is set to fall for a fifth day, in a retreat from a 14-month high touched just last week. Since then, traders have raised the odds on an ECB cut this month to around 90% as slowing inflation and deteriorating business sentiment prompt central bank officials to endorse easing.