The US dollar has continued its slide, hitting a 14-month low against the euro.
Investors have been selling to move to relatively high-yielding currencies such as the Australian and Canadian dollars. The US currency has suffered with interest rates in the states near zero. European shares ended down over one percent on Tuesday, with banks and drugmakers weakest. Investors were disappointing by the third-quarter sales figures from economic bellwether Johnson & Johnson, the world’s largest healthcare company. An unexpected fall in the ZEW investor sentiment survey also hit the bourses, particularly Frankfurt. The pound slumped to a six-month low against the euro and a five-month low on the dollar as UK inflation fell to lowest in five years – just 1.1 percent in September.