The European single currency, Euro, on Tuesday, June 19, slumped to a two-week low of $1.1531. EUR=EBS after ECB President Mario Draghi called for a patient approach to European monetary policy at a forum in Portugal.
The euro had its biggest fall in two years last Thursday after Draghi offered dovish guidance for monetary tightening while outlining details of the end of quantitative easing.
Investors and businesses worry that a full-blown trade battle could derail global growth.
The Australian dollar, a liquid hedge for risk, sank to a one-year low of A$ 0.7380 on the escalating trade dispute and as base metal prices slid.
The Canadian dollar, meanwhile, weakened to a one-year low of C$ 1.3237 overnight, before paring some of its losses on Tuesday, as investors worried about Canada’s own trade feud with the United States. CAD=D3
Emerging market currencies also came under pressure, with the South African rand shedding 1.9 percent to touch its seven-month low of 13.9150.
