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Euro Loses Ground Against Dollar, Pound

May 18, 2016 at 14:42 by Miranda Marquit

Euro banknotes and coinsEuro is lower today against the dollar and the pound as concerns about the eurozone economy compare unfavorably to better data coming out of the United States and relief out of the United Kingdom. Euro is heading lower as policy divergence becomes more likely.

Better economic news out of the United States is spurring talk of a rate hike later in 2016, a move that would leave the euro behind. Also, with the chances of a Brexit slightly lower, the UK pound is getting some help. This is weighing on the 19-nation currency as well.

Risks to the euro are in the spotlight right now. Economic growth is slowing in the eurozone, and concerns about some of the member states, particularly Greece, are on the rise again. Worries about holding the currency union together, and disagreements over how much to help Greece and what conditions should apply are once again causing some disturbance and sending the euro lower against some of its more certain counterparts.

At 14:37 GMT EUR/USD is heading lower, dropping down to 1.1282 from the open at 1.1313. EUR/GBP is heading lower as well, lowering to 0.7732 from the open at 0.7822. EUR/JPY is moving higher, though, gaining ground to 123.75 from the open at 123.46.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

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