Euro Higher Amid ECB Comments
18 Dezember 2023 - 12:25PM
RTTF2
The euro appreciated against its major counterparts in the New
York session on Monday, as European Central Bank Governing Council
member Bostjan Vasle said that market expectations for imminent
interest rate cuts are premature.
Market expectations for both start of rate cuts and totality of
moves in 2024 are excessive, Vasle told Reuters.
"The market pricing has lowered the level of restriction and
this recent accommodation priced into interest rates is
inconsistent with the stance appropriate to return inflation to
target," Vasle added.
Although policymakers are increasingly confident inflation will
reach the target in 2025, talks of a rate cut are premature, Slovak
central bank chief Peter Kazimir said.
"We are increasingly confident that inflation will reach our
target in 2025 and that we can accomplish this in a soft-landing
scenario. The progress, however, is still subject to risks,"
Kazimir noted.
The euro touched 0.8637 against the pound, its highest level
since November 30.
The euro was trading at 1.0920 against the greenback and 156.18
against the yen, up from its early lows of 1.0891 and 154.74,
respectively.
The euro recovered modestly against the franc, with the pair
trading at 0.9475.
The euro rebounded to 1.4624 against the loonie, 1.6280 against
the aussie and 1.7570 against the kiwi, from an early low of 1.4565
and 4-day lows of 1.6214 and 1.7472, respectively.
The currency may find resistance around 0.88 against the pound,
1.12 against the greenback, 159.00 against the yen, 0.97 against
the franc, 1.49 against the loonie, 1.65 against the aussie and
1.78 against the kiwi.
Euro vs Yen (FX:EURJPY)
Forex Chart
Von Jun 2024 bis Jul 2024
Euro vs Yen (FX:EURJPY)
Forex Chart
Von Jul 2023 bis Jul 2024