Economic news

Euro struggles as row of banks meeting kicks off this week

Forex markets took a break on Monday as traders hold back to see by how much and how quick political leaders may ease approach, starting with the ECB on Thursday.

euroPhoto: Flickr

The euro edged lower towards $1.12 as the greenback picked up the bull point, on account of safe harbor request during the rising issues in the Middle East.

The Swiss franc achieved another two-year peak versus the euro, tapping 1.1010 francs per euro. The Swiss money has profited by traders seeking the safe-haven from anxieties over the euro area economy.

Figures distributed a week ago show that traders stay net long of bucks, unaltered from the earlier week, with the greenback having endured rising anticipations for the rate of interest trim from the Fed generally well.

Forex markets have been squeezed in tight trading ranges late weeks, with anticipations for easing by both the Fed and the ECB pretty much neutralizing the effect on the euro and the greenback.

The euro bumped lower to $1.1217 after prior coming to $1.1208. The dollar index gained 0.1 percent to 97.203.


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