Euro Drops Against US Dollar Amid Renewed Safe-Haven Demand

Euro Drops Against US Dollar Amid Renewed Safe-Haven Demand
A women puts Swedish Crowns banknotes into her wallet in Stockholm in a file photo. Jonathan Nackstrand/AFP/Getty Images
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LONDON—The euro fell to a two-week low against the U.S. dollar and remained close to a 2015 low versus the Swiss franc amid safe-haven demand on renewed worries about higher rates and a global recession.

The Swedish crown trimmed early gains against the euro after briefly jumping on the country’s central bank decision to hike its benchmark interest rate by 50 basis points as expected.