Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - Euro nears 7-month lows on ECB easing expectations

Published 11/26/2015, 04:42 AM
Updated 11/26/2015, 04:42 AM
© Reuters.  ECB easing expectations pressure euro lower

© Reuters. ECB easing expectations pressure euro lower

Investing.com - The euro slid against the dollar on Thursday, re-approaching seven-month lows amid heightened expectations that the European Central Bank will announce further monetary stimulus measures at its upcoming meeting next week.

EUR/USD eased 0.13% to 1.0610, nearing Wednesday’s lows of 1.0565, the weakest level since April 14.

The euro remained under pressure amid heightened expectations that the ECB will implement fresh measures to combat slowing growth and inflation in the euro area.

Late last week ECB head Mario Draghi gave the clearest signal yet that the bank will unleash new easing measures, saying the back is ready to act quickly to boost inflation in the region.

The euro fell to seven month lows against the yen overnight, with EUR/JPY hitting 129.89, before edging back up to 130.14.

Upbeat U.S. economic reports on durable goods and jobless claims on Wednesday underlined the diverging monetary policy expectations between the Federal Reserve and the ECB.

The U.S. central bank is widely expected to hike interest rates for the first time in almost a decade at its December meeting.

Higher U.S. interest rates would make the dollar more attractive to yield-seeking investors.

The dollar edged lower against the yen, with USD/JPY dipping 0.11% to 122.62 in holiday thinned trade.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 99.9, not far from Wednesday’s peaks of 100.21.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.