Market participants say the euro's next level of support isn't until about $1.25, so look out for the latest tumble to continue for the time being. Mary Nicola of BNP Paribas says the disappointment out of the informal EU summit has helped accelerate the push lower. The euro has touched a 22-month low after breaching the 2012 low of $1.2624 earlier in the global session. Breaking that support means $1.25 is up next Nicola says. Recently, the euro is at $1.2580, down about 0.85% on the day, according to EBS via CQG.
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