The Euro continues to be under pressure in the financial markets.
At the beginning of the week, the single currency, the euro, fell below the $1.05 level. On Monday morning, the euro hit a low of $1.0476, the lowest it was in mid-May. The European Central Bank set the reference rate nearly a cent higher on Friday afternoon at $1.0578.
The Yen has been trending much weaker than the Euro for some time now. At the beginning of the week, the Japanese currency fell to its lowest level since 1998 against the US dollar monetary policy by the Bank of Japan, which – unlike many other central banks – sticks to its relaxed position. However, inflation in Japan is nowhere near as high as in many other major economies.
At the beginning of the week, there is only a small amount of economic data that can determine the direction of the financial markets. However, some high-ranking representatives from central banks, including ECB Vice President Luis de Guindos, commented.
/bgf/jha/
Frankfurt (dpa-AFX)
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