Euro tumbles to a two-year low following Fed's hawkish rate cut
The euro tumbled against the US dollar to near a two-year low of mid-1.03, a level briefly reached late in November and the lowest in two years. The decline was triggered by the Federal Reserve's (Fed) hawkish rate cut on Wednesday night. The EUR/USD pair dropped more than 1%, or 1.4 US cents per euro before a slight rebound in the Asian session on Thursday.


