Euro Stays Lower
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Dollar steady
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“Further euro strength is likely to be self-defeating,” said Valentin Marinov, a currency strategist at Crédit Agricole, a French bank. Exports were already likely to weaken and become a drag on the eurozone economy because of U.S. tariffs and European government policies that would encourage more imports.
EUR/USD snaps a four-day winning streak, trading modestly lower during American trading hours. ECB leaves key interest rates unchanged; Deposit Facility stays at 2.00% and Main Refinancing Rate at 2.15%.
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Legit.ng on MSNSee more as dollar exchange rate at all FX markets now the same, CBN shares good newsThe Central Bank of Nigeria has shared that the latest Nigerian Foreign Exchange Market (NFEM) exchange rate as it converge with the black market.
Danske notes the possibility of near-term dollar gains on trade jitters, but considers that there will be sustained dollar selling over the medium term. In this context, it forecasts EUR/USD gains to 1.23 on a 12-month view.
The EUR/USD exchange rate for the fifth consecutive day and was nearing the year-to-date high ahead of the European Central Bank (ECB) decision. It also jumped as hopes of a trade deal between the United States and the European Union rose.
The latest data from the International Monetary Fund show the dollar's share of foreign exchange reserves edged lower to 57.7% in the first quarter from 57.8% in the fourth quarter of 2024. The share of euro holdings rose to 20.1% from 19.8% over the same period, the highest since late 2022.
The Pound Euro (GBP/EUR) exchange rate gained ground on Monday as a pullback in Bank of England (BoE) interest rate cut bets supported Sterling. At the time of writing, GBP/EUR was trading at €1.1552, up 0.2% on the day.