The euro slid to its lowest level since August after weak economic data and dovish comments from ECB President LAGARDE, prompting traders to pare back rate‑hike bets. June showed contraction in German private‑sector activity and in French business activity; the euro hit an intraday low on the prints. Option markets show the most bearish euro positioning in over three months. LAGARDE said she did not see a need for a more hawkish ECB response to spillovers from the Iran war, a stance that contras

The euro slid to its lowest level since August after weak economic data and dovish comments from ECB President LAGARDE, prompting traders to pare back rate‑hike bets. June showed contraction in German private‑sector activity and in French business activity; the euro hit an intraday low on the prints. Option markets show the most bearish euro positioning in over three months. LAGARDE said she did not see a need for a more hawkish ECB response to spillovers from the Iran war, a stance that contrasts with stronger inflation signals from Fed chair KEVIN WARSH last week. ING currency strategist Francesco Pesole said LAGARDE's unusually dovish language is significant because the ECB had spent the past three months largely defending market hawkish expectations.