Given the strength we highlighted in the US Dollar Index yesterday, it should surprise no one that the euro is seeing weakness of a similar magnitude.  As shown in the chart below, over the last 50 trading days the euro has declined by 12.4% versus the dollar.  Since the currency launched in 1999, the only other time that the currency saw a larger decline over a 50-trading day period was during the financial crisis in the fourth quarter of 2008.

Euro

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