Euro fell against the European currency on Tuesday against a basket of world currencies to deepen its losses for the third day in a row against USD, the lowest level in two weeks, as the prospects for the normalization of European monetary policy in the second half of next year, especially after comments by Mario Draghi, During which he acknowledged the slowdown in economic activity in the euro area.

Euro was down 0.1% at 07:45 GMT, trading at $ 1.1317, the opening price at $ 1.1327, the highest at $ 1.1343 and the lowest at $ 1.1144 the lowest in two weeks.

Euro ended yesterday’s trading down 0.1% against the dollar, its second consecutive daily loss, after Mario Draghi’s testimony before the European Parliament in Brussels.

The single European currency lost 0.75% against the greenback over the past week, resuming weekly losses, which were temporarily halted the previous week for the first time in five weeks, as concern over slowing economic growth in Europe escalated.

EUR opened the week higher after European leaders agreed to a breakaway agreement with the European Union, and after Italy hinted at reducing the 2019 budget deficit to appease the European Commission, the gains soon faded after Draghi’s comments.

In his testimony on economy and monetary policy to the European Parliament in Brussels, Draghi admitted to a slowdown in economic activity in the Eurozone, which led to a decline in the prospects for the ECB to normalize monetary policy during the second half of next year.