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Euro edges higher but gains limited

Currencies Direct May 19th 2014 - < 1 minute read

The euro inched higher against the US dollar on Monday (May
19th), coming off a more-than-two-month low struck late last
week.

EUR/USD rose 0.2 per cent to 1.3721, more than half a cent above
the trough hit on Thursday after figures showed the eurozone
economy barely grew in the first quarter.

But gains were capped ahead of expectations for the European
Central Bank
to ease monetary policy further when it next meets
in June.

Sterling was steady against the single currency, with the
euro-pound exchange rate
holding near a 16-month low at just
above 0.8150.

The pound was also flat against the dollar, with GBP/USD holding
firm at 1.6825 before consumer price inflation figures on
Tuesday.

Meanwhile, the yen rose to a two-month high versus the dollar
amid rising demand for safe haven assets.

USD/JPY slipped to 101.24, the strongest since mid-March, as
tension in Ukraine and anti-Chinese violence in Vietnam spurred
safe haven buying.

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Written by
Currencies Direct

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