Euro Firms As Geopolitical Tensions Recede
16 November 2022 - 10:59AM
RTTF2
The euro was higher against its most major counterparts during
the European session on Wednesday, as comments from U.S. President
Joe Biden alleviated concerns over a missile strike in Poland,
which killed two people.
Biden said that missile that hit the town of Przewodow in Poland
may not have been launched from Russia.
NATO chief Jens Stoltenberg said that there is "no indication"
the missile explosion in Poland was "a deliberate attack".
"Ukraine's defense was launching their missiles in various
directions and it is highly probable that one of these missiles
unfortunately fell on Polish territory," Polish President Andrzej
Duda said.
These comments helped ease concerns about a possible escalation
of violence in the Ukraine conflict.
In its Financial Stability Review, the European Central Bank
said that risks to the financial stability in the euro area
increased amid rising inflation and low economic growth.
The ECB observed that financial conditions tightened as central
banks took measures to combat inflation.
The euro touched 145.50 against the yen, its strongest level
since November 10. Should the euro rises further, 147.5 is likely
seen as its next resistance level.
The euro edged up to 1.0438 against the greenback and 1.5406
against the aussie, up from its prior lows of 1.0331 and 1.5283,
respectively. The euro is seen finding resistance around 1.08
against the greenback and 1.57 against the aussie.
The euro rose to 1.6910 against the kiwi and 1.3821 against the
loonie, off its early lows of 1.6781 and 1.3727, respectively. The
next possible resistance for the euro is seen around 1.72 against
the kiwi and 1.42 against the loonie.
The euro climbed to 0.9815 against the franc at 2:55 am ET and
held steady shortly thereafter. At Tuesday's close, the pair was
valued at 0.9767.
The euro advanced to 0.8776 against the pound at 4:30 am ET, but
it has since eased to 0.8737. The pair had ended yesterday's
trading session at 0.8718.
Euro vs Sterling (FX:EURGBP)
Forex Chart
Von Feb 2023 bis Mär 2023
Euro vs Sterling (FX:EURGBP)
Forex Chart
Von Mär 2022 bis Mär 2023