The euro falls below $1.30 for the first time since January, now buying $1.2996. The low for the year set that month was around $1.2900. Beyond that, one has to go back to spring 2010 to find a lower value for the currency. Instead of signalling the end of days, the slide could just be a normal response to looser central bank policy. The ECB has cut 50 bps the last 2 months, with more cuts likely on the way.