The euro has fallen to its lowest point since August, in contrast to the stance of Federal Reserve Chairman Kevin Walsh

Affected by weak economic data and dovish remarks from European Central Bank President Lagarde, the euro fell to its lowest point since August. The private sector in Germany and business activities in France shrank in June, and the euro hit a intraday low. The options market shows that the euro put position is the highest in three months. Lagarde stated that there is no need for a more aggressive European Central Bank response to the spillover effects of the Iran war, which contrasts with the stronger inflation signal issued by Federal Reserve Chairman Kevin Walsh last week. ING currency strategist Francesco Pesole stated that Lagarde's dovish remarks are significant as the European Central Bank has primarily maintained hawkish market expectations over the past three months.