Euro Gives Up Some Earlier Gains, but Manages to Retain Upper Hand

Euro is still maintaining a level of strength against its major counterparts today, even after more concerns about China. However, there are still expectations that the next ECB policy meeting will put the brakes on the 19-nation currency.

Euro is slightly higher across the board right now, hanging onto small gains. Earlier in the session, euro was doing better, but concerns about China provided some concern. Chinese stocks closed at their lowest in more than a month, and worries about other bourses around the world resulted in some risk aversion.
Now, though, global stocks seem to be doing better. European indexes are gaining ground and US indexes are expected to open higher today. This is helping the euro retain its small upper hand for now.
Many analysts and Forex traders expect a different story later this week, though. After the ECB policymakers meet, there are expectations for seeing efforts to talk the euro lower. If those efforts don’t work, there could be more easing on the way as the ECB attempts to stimulate the eurozone economy.
At 12:53 GMT EUR/USD is higher, gaining to 1.1352 from the open at 1.1346. EUR/GBP is also a little higher, moving up to 0.7351 from the open at 0.7346. EUR/JPY is gaining to 136.2830 from the open at 135.9670.

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