LONDON, Aug 19 — The euro and sterling slipped to a one-month low versus the safe-haven US dollar on Friday with investors worrying about further economic slowdown after Federal Reserve officials reiterated the need for higher rates.
St. Louis Fed President James Bullard said he is leaning toward supporting a third straight 75-basis-point interest rate hike in September, while San Francisco Fed colleague Mary Daly said hiking rates by 50 or 75 basis points next month would be “reasonable.” Weakening Chinese data this week and an energy crisis in Europe are raising fears of further economic slowdown, which also hit European currencies and supported safe-haven flows, Foley added. “We expect another break below parity,” she said.
European Central Bank board member Isabel Schnabel fuelled inflation worries by saying consumer prices could still accelerate in the short-term.
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