The European Single Currency, euro on Tuesday, February 20, deprecated by 0.4 percent to $1.2360, backing down from Friday’s three-year high of $1.2556.
Against the euro, the pound was up marginally at 88.495 pence per euro.
Euro zone finance ministers expressed broad support on Monday to allow their bailout fund ESM to become a backstop for the Single Resolution Fund (SRF) for banks, the chairman of the ministers Mario Centeno told a news conference.
Traders will be looking to an EU leaders meeting next month for progress on Britain securing itself a transition deal for when it leaves the EU.
German Social Democrats (SPD) start voting in a postal ballot on Tuesday on whether the centre-left party should go ahead with the agreement its leaders clinched last week to renew their power-sharing alliance with the chancellor’ Angela Merkel’s conservatives. The results are due March 4.
