RTRS: Euro hits new 2-year low against dollar-Reuters data
(Reuters) - The euro hit its lowest level against the dollar in two years on Tuesday as technical selling and overall bearish sentiment had investors selling the euro zone common currency.
The euro fell as low as $1.2245, is lowest since July 1, 2010. It last traded at $1.2258, down 0.5 percent on the day, according to Reuters data.
"People have been selling into bounces as euro sentiment remains very low," said Marc Chandler, global head of currency strategist at Brown Brothers Harriman in New York.
"Euro weakness is partly a reflection of the unresolved issues in the euro zone and there is also a limit to how much the European Central Bank can ease, so now we are seeing easing through the currency," he said.