The euro was weak against most of its major currencies today due to the clash between Italy and the European Union over Italy’s budget deficit target. The shared 19-nation currency managed to gain on the Great Britain pound, which was also extremely weak due to Brexit concerns.
The US dollar was generally weak today as risk appetite made investors seek riskier currencies with higher yield. For the same reason the greenback gained on safe currencies, like the Japanese yen and the Swiss franc.
The euro rallied today but trimmed its gains against some rivals, including the Japanese yen and the Great Britain pound. The currency kept gains versus the US dollar and the Swiss franc, though.
The Japanese yen fell today as markets switched into a risk-on mode on the reports that Italy will change its budget plans to avoid clash with the European Union. The news were conflicting, though.
The US dollar ended the trading week strong thanks to the hawkish policy statement of the Federal Reserve. But the strongest currency was the Canadian dollar due to the better-than-expected economic growth. The euro was weak, dragged down by the Italian budget.
The euro today traded sideways against the US dollar amid market concerns regarding the infrastructure spending plans of the Italian government. The recovery by the US dollar earlier today drove the EUR/USD currency pair lower, but the pair has since recovered most of its losses to trade sideways.
The euro rallied today as fears about Europe’s political problems receded, while optimism caused by the last week’s inflation data continued to support the currency.
The euro backed off to new lows after attempting to rally earlier today. European politics was the main driver for the currency.
The euro was weak today following macroeconomic releases during the Monday’s trading session. Not all of the reports were bad, but markets paid more attention to the negative part of the data.
The euro fell against the US dollar intraday but has managed to recover by now. Against other majors the shared 19-nation currency was mixed, rising against the safe currencies, like the Japanese yen, but falling versus the Great Britain pound. The major driver for the currency were European election on the weekend.
