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The euro fell to the lowest level in more than a year against the US dollar after a sharp fall of the Turkish currency raised concerns about the exposure of major European banks to Turkey´s financial crisis.
The Turkish lira, with a total of 18 percent, was affected by concerns over President Recep Tayyip Erdogan´s influence on monetary policy and tensions between Ankara and Washington.
The euro was damaged after the Financial Times reported that the European Central Bank has concerns about banks in Spain, Italy and France and its exposure to Turkey´s problems.
The two currencies increased their losses after US President Donald Trump said he agreed to double import duties on steel and aluminium imports from Turkey. "Our relations with Turkey are not good right now!" said Trump on Twitter.
The euro fell 1.15 percent during the session to 1.1393 dollars, its lowest level since July July 2017, before recovering slightly to 1.1404 dollars in late dealings.
In front of the Japanese currency, the euro fell 1.56 percent to 126.03, the weakest level in more than two months.
