The European Single Currency, euro, 0n Friday, June 15, gained against the dollar, rebounding from a nearly 2 percent drop on Wednesday, its worst one-day drop since June 24, 2016, following Britain’s vote to withdraw from the European Union.
On Friday, the outlook for the euro appeared brighter as banks adjusted their forecasts for interest rates to the ECB’s guidance, removing some uncertainty from the market.
Meanwhile, the Sterling steadied above its lowest level since November, after strong U.S. retail sales and a more hawkish Federal Reserve earlier this week boosted the dollar and underlined policy divergence between the countries.
Against the euro, sterling dropped 0.2 percent to 87.43 pence but remained above the 88-pence range it had traded at before the euro’s selloff on Thursday.
Sterling was 0.09 percent higher at $1.3273. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.04 percent at 94.732.
