The euro has reached its lowest point in two months, trading at $1.0796 in New York, as traders are increasingly speculating on further interest rate cuts by the European Central Bank (ECB) in order to support the struggling economy.

Mario Centeno, a member of the ECB Governing Council, suggested that the central bank is willing to implement additional monetary easing if economic data justifies it.

Furthermore, Christine Lagarde, the President of the ECB, mentioned in an interview with Bloomberg Television that while the direction of interest rates is clear, the timing and speed of any adjustments remain uncertain.