Euro to the lowest since March 8
EUR/USD is into negative territory. It sagged on fixing demand and has continued to fall since.
Germany's Markit PMI fell to 44.1 from 44.7 in March in a troubling sign of deep contraction in Europe's largest economy.
In early March, the euro had a strong rally but that's now almost completely erased as talk of an ECB rate cut continues to gain traction.
The euro is now just 30 pips from the March low, which was also the lowest level since June 2017. A breakdown from here on signs of continued weakness -- especially if coupled with US economic strength -- could easily mean a retest of 1.04.
