DJIA39807.37
LIVE47.29(0.12%)
NDX18254.69
LIVE-26.15(-0.14%)

Euro Rallies on EU Recovery Fund Proposals, Yuan Falls


Wednesday, 27 May 2020 18:55 WIB

EuroEuroDolarUSD/EUR


The euro headed towards a two-month high on Wednesday after the European Commission proposed a coronavirus economic recovery package worth in total 1.85 trillion euros ($2.04 trillion).

The euro has struggled since falling in March, when investors rushed for the safety of dollars. But analysts say the recovery fund proposals, if they can win over EU members sceptical of an earlier Franco-German plan, could push the euro higher.

Should the European Commission approve the new proposal, "it would reduce the risk of a slump in peripheral Europe, notably Italy, and increase the likelihood of a synchronized recovery across the Continent,” said Marshall Gittler, an investment analyst at BDSwiss Group. "It would be positive for the euro.”

The euro rose as high as $1.1031before falling to $1.1017, still up 0.3%. The dollar, previously higher against a basket of currencies was last down 0.2% at 98.811. The dollar gained 0.4% at 7.1766 yuan, not far from the offshore yuan's record low of 7.1975 in September.

Source : Reuters


RELATED NEWS

  • The dollar was slightly offered, heading for a second day of losses amid very thin flows as traders took to the sidelines ahead of a slew of policy-rate decisions due this week. The Bloomberg Dollar ...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.