The dollar slipped moderately lower against the other major
currencies on Monday, as fears sparked by anti-austerity Syriza party's
victory in Sunday's Greek elections continued to subside in relatively
quiet trade.
EUR/USD gained 0.49% to 1.1259, recovering from overnight lows of 1.1099, the weakest since September 2003.
The euro stabilized as markets shrugged off concerns over Syriza’s pledge to renegotiate the terms of Greece's €240 billion international bailout and reverse many of the austerity measures imposed by the European Union and International Monetary Fund.
Market sentiment continued to be underpinned after the European Central Bank unveiled a €1.2 trillion asset purchase program last week, aimed at combatting slowing growth and inflation in the euro area.
Data earlier showed that German business confidence improved to the highest level in six months in January, easing concerns over the health of the euro zone's largest economy.
The German research institute, Ifo said its Business Climate Index rose to 106.7 this month, above forecasts for 106.3 and up from a reading of 105.5 in December.
The euro was also higher against the yen and the Swiss franc, with EUR/JPY advancing 1.02% to 133.34 and EUR/CHF up 2.66% to 1.0092.
Read more Click here / www.trade4x.net
EUR/USD gained 0.49% to 1.1259, recovering from overnight lows of 1.1099, the weakest since September 2003.
The euro stabilized as markets shrugged off concerns over Syriza’s pledge to renegotiate the terms of Greece's €240 billion international bailout and reverse many of the austerity measures imposed by the European Union and International Monetary Fund.
Market sentiment continued to be underpinned after the European Central Bank unveiled a €1.2 trillion asset purchase program last week, aimed at combatting slowing growth and inflation in the euro area.
Data earlier showed that German business confidence improved to the highest level in six months in January, easing concerns over the health of the euro zone's largest economy.
The German research institute, Ifo said its Business Climate Index rose to 106.7 this month, above forecasts for 106.3 and up from a reading of 105.5 in December.
The euro was also higher against the yen and the Swiss franc, with EUR/JPY advancing 1.02% to 133.34 and EUR/CHF up 2.66% to 1.0092.
Read more Click here / www.trade4x.net
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