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LONDON, Jan 6: The euro sank against the dollar on Tuesday as tumbling eurozone inflation raised expectations the European Central Bank would slash interest rates again next week, analysts said.
In late morning trade, the European single currency dropped to $1.3406 from $1.3632 in New York late on Monday. Against the Japanese unit, the dollar climbed to 93.79 yen from 93.34 yen on Monday. Inflation in the euro countries slumped in December to 1.6 per cent — the lowest in over two years — from 2.1 per cent in November, according to an estimate on Tuesday from EU’s Eurostat data agency.—AFP
