Euro Sinks To 12-Year Lows As Yield Gap Grows

(Reuters) - The euro dived to its lowest since early 2003 against the dollar on Wednesday, dragging other European currencies with it on the back of the huge differences developing in market interest rates between Europe and the United States. In a dollar rally that began last July the single currency has lost around a quarter of its value, and there is little sign of that bottoming out. Deutsche Bank on Tuesday forecast a fall to 85 U.S. cents by the end of 2017.