Euro slides to lowest since May against dollar

Euro fell for the third session in a row versus the dollar following earlier data from the euro zone and the US, the world's largest economy. 

As of 04:02 GMT, EUR/USD fell to 0.28% to 1.1183 from the opening of 1.1214, with an intraday high at 1.1237, and the lowest since May 31 at 1.1166. 

Earlier euro zone data showed an unexpected drop in trade surplus in April, while the French government budget deficit widened, as French industrial production fell in the same month, and finally, the Italian unemployment rate declined in the first quarter.

Yesterday, ECB policymakers opted to hold the Minimum Bid Rate unchanged at zero, while also holding the deposit rate at the record negative 0.40%, before president Mario Draghi asserted the bank's resolve to carry on its monetary easing program until the end of 2017, with the possibility of extending it beyond that if needed. 

Draghi said in the post-meeting conference that recent euro zone data, including a surge in the PMI to 2011 highs, while the unemployment rate fell to 2009 lows, showed that economic growth is gaining momentum, which announcing an upgrade to growth forecasts and a downgrade for inflation. 

Draghi added that policymakers didn't discuss the possibility of normalizing the monetary policy, while two members delved into the monetary easing mechanism and its relation with current inflation, pointing that financial and monetary unity isn't perfect yet, while asserting that the 60 billion euro a month asset purchase program is effective and flexible enough and takes into consideration the stabilization of prices in the region.