The euro’s depreciation against the dollar accelerated Wednesday, pushing it closer to parity, as expectations for a June rate hike by the Federal Reserve drew more investors to the already-crowded dollar trade.The euro EURUSD, -0.31% traded as low as $1.0547, a nearly 12-year low, compared with $1.0700 late Tuesday in New York. The euro was down 1.4% against the dollar Wednesday, following a 1.4% decline Tuesday.
Against the yen, the dollar USDJPY, +0.00% traded at ¥121.43, compared with ¥121.13 on Tuesday.
Disappointing U.K. manufacturing data pushed the pound GBPUSD, +0.01% to $1.4928, its lowest level since mid-2013.
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