Euro is mixed today, dropping against the UK pound, but rising against the US dollar. The economic news today is offering a little uncertainty, and resulting in a degree of choppiness in trading.
Earlier, Mario Draghi, president of the European Central Bank, said that the fear of inflation was high in the 17-nation currency zone. This news came as a surprise to many, who had hoped that the ECB would take steps to stimulate the economy in the face of a possible eurozone recession. Now, though, it appears that this is not likely an option. ECB is likely to keep things the same, in order to battle inflation.
Also affecting the situation is the fact that many Forex traders were disappointed by the jobs report from the United States, showing that March only saw the creation of 120,000 jobs. Euro is higher against the US dollar on this news, but the concerns about the situation in the eurozone have sent it lower against the UK pound.
A mixed outlook is leading to a mixed performance by the euro.
At 14:56 GMT EUR/USD is higher at 1.3083, up from the open at 1.3067. EUR/GBP is down to 0.8240 from the open at 0.8254. EUR/JPY is lower at 106.6575, down from the open at 107.6150.
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