The euro hit a four-year low against the U.S. dollar Monday and also reached its lowest value against the Japanese yen in eight years and an all-time low against the Swiss franc, as traders fled high-risk currencies and asset classes. "There might be a bit of support around the $1.18 handle, but we expect it to fall to $1.15 eventually," said Jonathan Cavenagh, a currency strategist at Westpac.

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