August 30, 2019 / 4:24 PM / 5 months ago

Euro falls below $1.10 to lowest since May 2017

FILE PHOTO: A man is seen in front of a sheet of five Euro notes at the opening of the new Central Bank of Ireland offices in Dublin, Ireland April 24, 2017. REUTERS/Clodagh Kilcoyne

NEW YORK (Reuters) - The euro EUR= fell below $1.10 on Friday to its weakest since May 2017 as a multi-day downward shift in the single currency intensified.

Traders had varied explanations for the drop, including a tweet from President Donald Trump in which he said the euro was dropping “like crazy” and lamented the strength of the U.S. dollar, attributing the trend to Federal Reserve policy.

Others argued that the move came as traders closed out their books for the end of the month, heightening an existing bias.

The euro was last trading at $1.0990 against the dollar, down 0.61% on the day.

Reporting by Kate Duguid; Editing by Chizu Nomiyama

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