The #euro flirted with 11-year lows on Monday as investors braced for the European Central Bank to take its boldest steps yet to combat deflation and revive the euro zone economy. The common #currency last #traded at $1.1557, not far from a trough of $1.14595 hit on Friday. Against the #yen, it fetched 135.17, near a three-month low of 134.70. That the #ECB will launch a large-scale sovereign #bond-buying program at its Jan. 22 meeting is no longer in question, but what is unknown is how the plan will be designed and whether it will be seen as credible and sufficient. Against the #CanadianDollar, the euro remained within near a 16-month low of C$1.3749 set on Friday. Pressure on the euro intensified last week after the Swiss National Bank shocked markets by abandoning its three-year-old #currency cap, effectively removing a pillar of support for the euro. The #SNB had been buying billions of euros in order to keep the #franc from strengthening above the 1.20 per euro cap it had implemented back in September 2011 Read More: https://olofx/posts/dailyfundamentalanalysis/2015/01/19
Posted on: Mon, 19 Jan 2015 07:39:11 +0000
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