Best may be over this year for euro

LONDON: The euro's biggest drop in more than two months against the dollar may signal the best is over this year for Europe's common currency.

The euro fell 1.1 percent on Aug 7 as the MSCI World Index of stocks rose 0.4 percent, the second time in a month the currency failed to appreciate as it did earlier this year when equities gained.

For BNP Paribas SA, which correctly forecast in May that it would rise to $1.40 from $1.3390, the breakdown means the euro's strength is ebbing.