Euro Rallies Amid Ukraine Peace Plan

RTTNews | 131 days ago
Euro Rallies Amid Ukraine Peace Plan

(RTTNews) - The euro firmed against its major counterparts on Monday, amid the prospect of higher defense spending in Europe to deter Russian aggression.

European leaders held a summit in London on Sunday to plan a potential peace deal for Ukraine.

The leaders pledged to boost military spending during the meeting in London.

Eurozone inflation eased slightly in February partly reflecting the slowdown in services inflation but the rate remained above the 2 percent target, flash data from Eurostat showed.

The harmonized index of consumer prices logged an annual growth of 2.4 percent after rising 2.5 percent in January. The rate was expected to ease to 2.3 percent.

The euro advanced to a 5-day high of 1.0503 against the greenback, near 2-week high of 158.47 against the yen and a 10-day high of 0.9435 against the franc. The currency is seen finding resistance around 1.09 against the greenback, 160.00 against the yen and 0.97 against the franc.

The euro strengthened to a 5-year high of 1.8674 against the kiwi, multi-week high of 1.5159 against the loonie and a 7-month high of 1.6824 against the aussie. The currency is poised to challenge resistance around 1.88 against the kiwi, 1.53 against the loonie and 1.70 against the aussie.

In contrast, the euro fell to 0.8247 against the pound, from an early 4-day high of 0.8268. The currency is likely to face support around the 0.80 level.

read more
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 1 day ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 1 day ago
Yen Retreats Amid US-Japan Trade Uncertainty

Yen Retreats Amid US-Japan Trade Uncertainty

The Japanese yen retreated from early highs against other major currencies in the European session on Friday, amid concerns on US-Japan relations in light of Trump's placement of a 25 percent tariff on Japanese exports this week, which will go into force on August 1.
RTTNews | 1 day ago
Yen Retreats Against Majors

Yen Retreats Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Friday.
RTTNews | 1 day ago
Antipodean Currencies Rise Amid Risk-on Mood

Antipodean Currencies Rise Amid Risk-on Mood

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against other major currencies in the Asian session on Friday amid increased risk-on mood by the investors, following the broadly positive cues from Wall Street overnight, as traders hope for an end to the tariff uncertainty after U.S. President Donald Trump confirmed he will not extend the August 1 deadline for striking trade deals, though he continues to threaten higher reciprocal tariffs on various sectors and countries.
RTTNews | 1 day ago