The euro is near the lowest level in 4 weeks



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The dollar stopped its rally today while the euro remained near a four-week low against the greenback after the European Central Bank hinted at more monetary easing by the end of the year.

Overnight, the euro’s decline, combined with US data, helped push the dollar near a four-week high against a basket of currencies.

The European Central Bank kept interest rates stable, but it pledged to contain the growing repercussions of the second wave of infections with the Coronavirus, saying that it would define its response more precisely by its meeting in December.

The euro rose slightly to $ 1.1679 in Asia, after hitting a four-week low of $ 1.1650 in US overnight trade.

Yesterday, Thursday, data showed that the US economy grew at a record pace in the third quarter of 2020, and showed an improvement trend in US jobless claims, while the negative effects resulting from the Corona virus continued.

Source: “Reuters”


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