Euro Near Multi-Month High as Markets Bet on ECB Stimulus Boost
Thursday, 4 June 2020 08:30 WIB | CURRENCIES | EuroDolar AS

The euro held near multi-month highs against rival majors Thursday on expectations the European Central Bank will expand its bond buying programme later in the day to shore up the coronavirus-stricken economy.

The euro's strength helped to push the dollar's index against a basket of key currencies to the lowest level in nearly three months.

The euro stood at $1.12305, having risen to $1.1258 on Wednesday, its highest levels since mid-March and the seven straight session of gains.

Against the Japanese yen, the common currency rose to a 4-1/2-month high of 122.625 overnight and last stood at 122.41 yen.

The European Central Bank is widely expected to increase the size of its 750 billion euro ($669 billion) Pandemic Emergency Purchase Programme (PEPP) as early as Thursday.

Source : Reuters

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