Breaking: EUR/USD slumps to lowest level since December 2002 below 1.0350

FXStreet Team FXStreet

Pressured by the broad-based dollar strength, EUR/USD has extended its daily slide and touched its lowest level since December 2002 below 1.0340.

The US Dollar Index, which tracks the greenback's performance against its major rivals, is trading at its highest level in nearly two decades and pushing higher toward 106.00.

The cautious market mood is also providing an additional boost to the dollar following the long weekend in the US. The Euro Stoxx 600 Index erased its gains after opening in positive territory and US stock index futures are down around 0.2%.

In the second half of the day, May Factory orders will be the only data featured in the US economic docket. Meanwhile, the S&P Composite PMI for the eurozone arrived at 52 in June, showing that the business activity in the private sector expanded at a soft pace.

EUR/USD 15-min chart

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FXStreet Team

FXStreet

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