Euro rallies as ECB seen less dovish
Currencies Direct November 6th 2013 - < 1 minute read
The euro gained as investors viewed the common currency’s recent
slide as too rapid, with analysts expecting the European Central
Bank (ECB) to hold interest rates at a policy meeting tomorrow
(November 7th).
EUR/USD gained 0.2 per cent to 1.3506, while the euro climbed
0.4 per cent against the yen to reach 133.19.
The dollar’s retreat from a six-week high against the euro was
aided as traders prepare for data tomorrow expected to show US
growth slowed in the last quarter.
Elsewhere, the pound rose for a third straight day against the
dollar ahead of a report expected to show UK industrial production
expanded in September.
The GBP/USD
exchange rate climbed 0.2 per cent to hit 1.6074, while
sterling reached a one-month high against the euro, with EUR/GBP
easing to 0.8397.
Meanwhile, the New Zealand dollar leapt against its US
counterpart after positive labour market statistics showing
employment climbed 1.2 per cent in the third quarter.
NZD/USD rose 0.4 per cent to reach 0.8402, a two-week high.
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Currencies Direct