Euro falls to the lowest since August 18 ...Middle East

The euro is struggling today as the US dollar gains broadly on a painful turn in the risk trade.What looked like a breakout to a one-year high only a week ago is now looking suspect. The euro easily fell back below the December highs and took out 1.1050 today.Next is the 1.1000 level, which has been a pivot point for the euro for more than a year. I expect the bulls to make a strong stand there but it's going to largely depend on the risk trade and how central banks react this month.If the market gets a sense that central bankers want to be proactive and kick off a global growth cycle, it will help the euro but it's a fine line as they continue to lick the wounds of missing the inflation mov

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