Currency Exchange UK

 

Euro close to $1.50

Euro close to $1.50 

The Euro skimmed close to $1.50 at $1.49 on Tuesday but was prevented from reaching the mark by options-related trading.

This was the highest level that the Euro reached in 14 months.  After a regular meeting held by the European Central Bank was completed without any news on the Euro strength, the foreign exchange markets seemed to push on the currency.

The US dollar has remained weak on a range of topics.  One was that interest rates in the US are expected to remain low and another is the growing discussion over its status as the global reserve currency.

Against six major currencies the US dollar fell 0.5 per cent – this according to the .DXY index which measures its strength against said six currencies.