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Euro on defensive ahead of ECB meeting amid worries about growth


Monday, 9 September 2019 07:43 WIB

DOLLAR EuroPoundsterling


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The euro was on the back foot on Monday ahead of a European Central Bank meeting later this week at which policymakers are expected to deliver new stimulus to bolster a flagging regional economy.

Heightened expectations for an ECB easing come as other global central banks move to loosen the monetary spigot with the People's Bank of China on Friday taking steps to boost lending.

The dollar was confined to a narrow range versus the yen as traders weighed the prospect of U.S. interest rate cuts against their demand for safe-haven assets.

The euro was little changed at $1.10235 early in Asian trading after falling 0.1% on Friday. Sterling traded at $1.2288 after falling 0.4% on Friday.

The dollar index against a basket of six major currencies rose 0.03% to 98.447.

Source : Reuters


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