Euro tumbles towards $1.05 as dollar comeback continues

April 13, 2015 12:16 PM

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Euro tumbles towards $1.05 as dollar comeback continues

LONDON (Reuters) - The euro tumbled back towards $1.05 on Monday, hitting its weakest in four weeks as the dollar's resurgence continued on bets the U.S. Federal Reserve will raise interest rates from their historic lows in the coming months.

The biggest mover among major currencies was the Australian dollar, which shed around 1.7 percent to head towards a six-year low after a shock contraction in Chinese exports stoked worries about sputtering growth in the world's second-largest economy.

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