Euro is mostly lower today against its major counterparts, and is expected to remain weak for some time. The latest inflation figures are about to be released, and policymakers have already indicated their willingness to do what it takes to weaken the euro in the name of economic stimulus.
Euro is mostly lower today against its major counterparts, falling as more indications of a slower economy are expected to show today. Inflation data is expected to be weak in the eurozone, and that means more measures to stimulate the economy.
Recently, ECB President Mario Draghi made it clear that policymakers are willing to adopt policies that lead to a weaker euro. A weaker euro should eventually help improve the economy, getting it going. However, some are beginning to say that Draghi and his colleagues are really aiming for currency devaluation.
In any case, the 18-nation currency is near lows not seen for quite some time as Forex traders contemplate what policymakers are willing to do in order kickstart the eurozone economy. All of these struggles are in stark contrast to other economies, which are recovering.
At 10:24 GMT EUR/USD is down to 1.2678 from the open at 1.2683. EUR/JPY is up to 138.87 from the open at 138.63. EUR/GBP is down to 0.7814 from the open at 0.7815.
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