© Reuters. The euro rose, the dollar catches up with the yen
Investing.com – The euro rose on Monday to a peak of three weeks reached the last week before the next meeting of the european central Bank, while the dollar rose against the yen as investors get rid of geopolitical concerns.
The EUR / USD was up 0.34% at 1.1810 at 03:56 AM, having gained 0.92% in the last week.
The demand for the single currency has been supported by Thursday’s meeting of the ECB, where it is widely expected that the bank shares its intentions to begin reducing its stimulus program of bond purchases.
The dollar erased its losses against the yen, with the USD / JPY advancing 0.41% to 109.99.
Traders have ignored the geopolitical risks in the wake of the G7 in Canada over the weekend.
The us president, Donald Trump has refused to endorse the final communiqué, which accused the prime minister of canada Justin Trudeau of “false statements” and the rest of the world treat America as a “piggy bank”.
Investors are hoping for a breakthrough with North Korea in sight of an historic summit between Trump and his counterpart in north korea, Kim Jong in Singapore on Tuesday.
The financial markets are also considering the federal Reserve meeting on Wednesday, during which officials expect that the interest rates rise for the second time this year. With a rate increase almost fully integrated, the markets focus on the question of whether the Fed will hint at the prospect of four rate hikes this year.
The Bank of Japan should also meet later this week and is expected to maintain the monetary policy outstanding at the end of its meeting Friday.
The dollar index, which measures the strength of the dollar against a basket of six major currencies, slipped 0.14% to 93,42.
The book has grown, with GBP / USD rising 0.15% to 1,3428.
During this time, the canadian dollar declined, with the USD / CAD up 0.32% to 1,2966 due to the deterioration of relations between Washington and Ottawa.