Euro at three-year nadir versus dollar

Euro steadied against a basket of major rivals, while trading near three-year lows against dollar amid concerns of economic recession in the EU. 

EUR/USD last traded at 1.0838, with an intraday high at 1.0843, after closing down 0.1% on Friday, the third loss in a row, to a 33-month nadir at 1.0827 on weak GDP data. 

Euro lost 1.1% last week against dollar, the second loss in a row as analysts expect the European Central Bank to ease policies while the dollar is buoyed by strong US data. 

Earlier German data showed a recession in the fourth quarter of 2019 due to weaker personal consumption and lower government spending. 

The euro zone economy grew just 0.1% q/q in the last quarter, the weakest pace since 2014.