The euro fell sharply to levels already near the $1.06-per-euro threshold and the lowest since March after the U.S. Federal Reserve said on Tuesday it would keep higher interest rates at a glance time, boosting demand for U.S. money.

In interbank trading in Frankfurt this morning, the single European currency was quoted at $ 1.0617.

The European Central Bank set a reference rate for the euro at $1.0702 yesterday afternoon.

Inflation in the Eurozone is slowing