Euro keeps spiraling down despite downbeat U.S. data

Euro kept falling on Wednesday for the eighth session in a row, hitting a new 11-month low as the dollar kept rising despite weak U.S. producer prices data today. 

EUR/USD last traded at 1.0695, down from the opening of 1.0720, with a session-high at 1.0757, and a low at 1.0685. 

Euro is falling as the dollar widens gains and hits 11-month highs against main rivals, while markets focus now on statements by Fed officials, who indicated an impending rate hike in December. 

U.S. producer prices didn't change in October, indicating weak price pressures with producers, but dollar ignored the data and kept rising. 

Expectations of a U.S. rate hike next month rose to 75%, triggering selling operations on the euro amid expectations of a widening policy divergence between the Fed and the European Central Bank.