Euro is trading mixed against its major counterparts today, although it is mostly lower. The 19-nation currency is having the most success against the US dollar today.
As expectations for a rate hike from the Federal Reserve are pushed back into 2016, the euro is gaining against the greenback. Concerns about the pace of economic growth in the United States are weighing on the dollar, and the euro is higher as a result.
However, the euro is struggling against its other major counterparts. With expectations for the BOE to raise rates well before the ECB, sterling is heading higher against the 19-nation currency. Additionally, the yen is higher against the euro, with the recent decision by the BOJ to hold its present course for now.
Concerns about the long-term performance of the euro are also being raised. Government debt is growing across many of the eurozone nations, including Germany. While Germany’s situation is better than France’s, it still wouldn’t meet Maastricht sustainability criteria. Only small countries and the most recent additions meet the levels set forth. As a result, concerns for the euro continue to manifest.
At 14:13 GMT EUR/USD is up to 1.1370 from the open at 1.1364. EUR/GBP is down to 0.7402 from the open at 0.7419. EUR/JPY is down to 136.5860 from the open at 136.5650.
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