Euro steadies vs dollar near 1-week low, focus shifts to Fed next week
Friday, 25 October 2019 15:38 WIB | CURRENCIES |pound EuroDOLLAR

The euro steadied on Friday after falling to a one-week low against the U.S. dollar in the previous session on the European Central Bank leaving the door open for more monetary policy easing, but keeping interest rates unchanged.

The focus will shift next week to a U.S. Federal Reserve meeting ending Oct. 30 and a Bank of Japan meeting ending Oct. 31. The Fed is expected to cut interest rates for a third time this year, but money markets have largely priced in a 25 basis points cut already, according to Refinitiv data.

The euro was last flat at $1.1109, though close to the one-week low of $1.1094 it reached on Thursday. The index which tracks the dollar against six major currencies was also flat at 97.66.

Elsewhere, the pound nursed losses versus the dollar and the euro on Friday after Prime Minister Boris Johnson™s call for an election heightened uncertainty over Britain's divorce from the European Union.

Sterling was last down 0.2% at $1.2835, having slipped below %1.28 to a one-week low of $1.2790 on Thursday. Against the euro, the pound fell 0.2% to 86.55 pence.

Source : Reuters

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