Euro Slumps by 0.2% Against Rival Currencies

The euro, on Tuesday, January 23 , was down 0.2 percent at $1.2240 EUR= after gaining 0.3 percent overnight. The common currency was thin reach of a three-year peak of $1.2323 set on Wednesday.

The euro was supported ahead of the outcome of the European Central Bank’s meeting on Thursday, which could provide clues to future shifts in the central bank’s monetary policy.

Meanwhile, pound was a shade lower at $1.3961 GBP=D3 after touching $1.3992, its highest level since June 2016’s vote for Brexit, on optimism that Britain will reach a favorable divorce deal with the European Union.

The dollar index against a basket of six major currencies stood rose 0.15 percent to 90.524 .DXY.

The Australian dollar and the Canadian dollar declined the most against the greenback, falling 0.7 percent and 0.3 percent each.

The yen weakened to 111.15 yen to the dollar, down 0.2 percent from U.S. levels, after BoJ Governor Haruhiko Kuroda reiterated his commitment to monetary easing.

 

 

 

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