Wednesday, 15 July 2020
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Euro gains on EU common fund proposal; dollar slips
Wednesday, 20 May 2020 15:22 WIB | CURRENCIES |Currency Euro

The euro edged higher on Wednesday as a Franco-German proposal for a common fund that could move Europe closer to a fiscal union underpinned demand for the common currency, while some risk aversion in currency markets also boosted the Swiss franc.

The euro inched up 0.18% to $1.0945, near a two-week peak of $1.09755 reached on Tuesday. Breaking that could open the way for a test of its May 1 high of $1.1019.

But the moves were tiny and well within recent ranges due to the presence of large option expiries around current market levels.

The euro's gains pushed the dollar onto the back foot, with the greenback holding near a three-week low of 99.225 hit in the previous session.

Source : Reuters

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