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Euro stronger ahead of ECB meeting

Monday, Jan 22 2018
Euro stronger ahead of ECB meeting

The euro rose against the U.S. dollar on Monday, just shy of the three-year high touched last week, as market participants awaited the outcome of the European Central Bank’s meeting on Thursday for possible clues to future shifts in the bank’s monetary policy. News of U.S. senators striking a deal to lift a three-day government shutdown failed to give a lasting boost to the weak dollar.

The euro was up 0.3 percent against the greenback at $1.2257, with traders focused on upcoming central bank meetings. The ECB is unlikely to ditch a pledge to keep buying bonds as rate setters need more time to assess the outlook for the economy and the euro, three sources close to the matter have said.

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