Euro Logs Gains Against Major Counterparts

Euro is heading higher today, logging gains against its major counterparts. Forex traders are waiting for speeches from ECB Executive Board members, and there is also anticipation for inflation numbers set to be released on Friday. Clues about where the euro could be headed next are likely coming.

Right now, there is a lot interest in consolidating for the end of the month, as well as trying to figure out what’s next for a lot of currencies. The euro is higher against its major counterparts right now, but the gains are fairly modest, and likely to remain somewhat capped.
Eurozone government bonds are on the rise right now. Additionally ECB Executive Board members Joerg Asmussen and Yves Mersch are expected to speak later. Many investors and traders are waiting for insight from them. Also, inflation data is due out on Friday, and that should provide guidance, too. While there is a chance that the ECB will cut rates next week, many think that it’s too early for such a step, and that is providing support for the euro.
At 14:40 GMT EUR/USD is higher, gaining to 1.3526 from the open at 1.3519. EUR/GBP is up to 0.8376 from the open at 0.8368. EUR/JPY is up to 137.3885 from the open at 137.1915.

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