Euro steadies at four-month peak as market awaits EU summit

Euro steadies at four-month peak as market awaits EU summit

The euro steadied at four-month highs on the dollar after investors pinned hopes on the EU economic rescue fund as European leaders are expected to break a deadlock and agree on a deal.

EU leaders had differing stands on the proposed 750 billion euro recovery fund to be raised on capital markets by the European Commission.

Several north European states preferred a maximum of 350 billion euros on grants, while the others pushed for a minimum of 400 billion. Investors are closely awaiting the bloc’s decision in their summit.

The euro stood at $1.1439, while the dollar remained weak as investors maintained a strong risk appetite. The U.S. currency traded at 95.949.

In the U.S. Congress, Republicans and Democrats debated over a new coronavirus-aid bill. The former pushed for a $1 trillion worth of coronavirus aid bill, while the latter pushed for $3 trillion.

The Japanese yen steadied at 107.07 per dollar, while the offshore yuan stood at $6.9889. The pound was flat at $1.2570, while the Aussie sat at $0.6999.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?