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Euro extends rally on ECB comments


Thursday, 7 June 2018 23:47 WIB

Euro


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The euro climbed to a 3-week peak on Thursday as expectations mounted that the European Central Bank will signal an early wind-down of stimulus.

The ECB, at its policy meeting next week, will debate whether to end bond purchases later this year, its chief economist, Peter Praet, a close ally of President Mario Draghi, said on Wednesday. Other ECB officials echoed Praet's sentiment.

The comments drove the euro to $1.1840, the highest since May 17. The single European currency has risen for four straight sessions. Since hitting a 10-month low last week, it has gained nearly 3 percent.

The euro was up 0.42 percent to $1.1823. The dollar index, tracking the unit against a basket of major currencies, fell 0.34 percent.

Source: Reuters


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