The single European currency hit its worst point in a number of years on Monday after traders became concerned about growth figures.
The Euro area has been hit by lots of growth-related issues in the last few weeks, and economic information from Germany published last week was disappointing.
With more key releases due to come out this week, traders showed their anxiety by pushing the euro’s value down.
It is expected that Tuesday will see a business sentiment indicator published in Germany.
On Friday, the markets will have to deal with a flash purchasing managers’ index for the region.
The currency went up a tiny bit on the day in its pair against the US dollar.
It was seen at $1.0836 at one point, although this rise was negligible when placed in the context of its overall decline.
It went down to $1.0817 at one stage, which marked its worst performance since the middle of 2017.
Despite the fact that the month is only just over halfway through, the euro has seen more than 2% of its value against the US dollar go down since the month began.
The US dollar index, which is a tool designed to monitor how the greenback is performing compared to other major currencies, reached its best point since the start of October 2019.
This point was 99.180, although it was later seen down a little at 99.145.
The rise for the US dollar came despite the fact that the greenback had various apparent obstacles in front of it.
One such obstacle came in the form of domestic data releases from last Friday, which revealed that industrial production levels were down.
Friday was also the day that unfortunate retail sales figures were published.
US banks were also closed on Monday for the President’s Day public holiday, which may have put the market at risk of lower trading volumes.
The safe haven Japanese yen appeared to hold firm.
It did not lose value by any significant amount, although it was down a little – to 109.91 yen per dollar.
This came in the face of an economic data release which suggested that the three months to December 2019 showed a 1.6% drop in the value of the Japanese economy.
This, which came due to a change to the tax regime, was the most substantial drop in around six years.
In China, the coronavirus saga appeared to show a mixed picture.
The incidence of cases has gone up, but the number of new cases of death from the disease has gone down.
It is now believed that the Chinese economy could receive some stimulus from the government there.
The Chinese yuan’s offshore version, which is traded abroad but not in China itself, was up by a tenth of a percentage point in its pair against the US dollar.
This left it standing at 6.9838.
The Australian dollar did not show any movement in its pair against the US dollar and was noted at $0.6717 at one stage.