Mystery buyer props up euro as bond yields fall

Friday, 8 February 2019 16:06 WIB



The euro held at a two-week low on Friday as traders nursed losses in a week of bad data that indicated an economic slowdown in Europe was spreading as trade tensions between United States and China remain high.

The single currency is on course for its biggest weekly loss in more than four months after data that has also pushed down euro zone government bond yields, with benchmark German debt trading at its lowest level in more than two years.

The euro had bounced off a low of $1.1323 on Thursday before ending the day at $1.1338 and was stuck to those levels on Friday.

The dollar failed to make the most of the euro’s weakness, however, with the greenback a shade higher against its major rivals as trade tensions remained dominant.

Sterling was marginally lower at $1.2941. Traders expect the British pound to remain volatile in the near term due to the uncertainty surrounding Brexit.

Source: Reuters


  • Further downside could drag AUD/USD to the mid-0.6500s in the next weeks, noted FX Strategists at UOB Group. 24-hour view: “AUD traded between 0.6586 and 0.6622, lower and narrower than our expected ...



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