After a bit of choppiness earlier, in which the euro slipped a bit, the 18-nation currency is now gathering itself and heading higher. The idea that the ECB might not ease monetary policy any more is providing a great deal of support to the euro, and the currency is striving for highs not seen in more than two years.
Euro saw a bit of a dip earlier today in Forex trading, but now the currency is moving toward strength. While there are indications that better US data means more tapering from the Fed, the latest comments by ECB President Mario Draghi seem to point to the idea that the eurozone won’t be easing its own policy anytime soon.
Greenback has been seeing strength on the idea that the 18-nation currency region would see easing even as the United States tightens. Now that might not happen, and the euro is gaining strength. The latest jobless data from the United States is also helping risk appetite in general as stocks move higher.
For now, it looks as though Draghi is satisfied with the eurozone’s progress, and that is helping the euro.
At 14:35 GMT EUR/USD is up to 1.3865 from the open at 1.3857. EUR/GBP is up to 0.8286 from the open at 0.8280. EUR/JPY is up to 143.5080 from the open at 142.8050.
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