Currencies

Mainstream economists are getting radical

Illustration of a test tube pouring into a hundred dollar bill
Illustration: Aïda Amer/Axios

As global growth continues to fall, the world’s top economists and financial authorities are signaling an openness to experimenting with previously fringe economic ideas that just a few years ago would have been considered extreme or even laughable.

What’s happening: Central bank policies, which now include negative interest rates in Japan and the eurozone, have yielded negligible improvement.

The euro sinks to lowest level in 2 years against the dollar

Data: Investing.com; Chart: Axios Visuals

Pulled down by more loose monetary policy from the European Central Bank and weak European growth data, the euro fell to its lowest level in 2 years against the dollar Thursday.

The intrigue: "The biggest story in the world right now is the whistleblower's complaint on President Trump but the biggest story in the forex market is the persistent decline in the euro," BK Asset Management managing director of FX strategy Kathy Lien wrote in a note to clients.