Europe’s response to the economic turmoil brought about by the global coronavirus shutdown is rekindling debate about the European Union’s financial unity. The euro has dropped 3.5% this year to $1.08, near its lowest level against the U.S. dollar since May 2017. The currency could lose another 5% by year-end, according to forecasts from Bank of America. That marks a sharp turnaround for a currency that posted its calmest year on record in 2019, when it slid 1.8%.

Source: Wall Street Journal May 08, 2020 08:37 UTC