ECB’s Nowotny to Speak as the Euro Remains Lower

The euro remained lower following a decline yesterday amid speculation European officials will try to rein in gains to the strongest in 10 months.

The 17-nation currency slid yesterday after Luxembourg Prime Minister Jean-Claude Juncker said the currency is “dangerously high.” European Central Bank Governing Council member Ewald Nowotny speaks on monetary policy today. The yen held a gain from yesterday amid speculation the Bank of Japan will fail to impress investors with extra policy measures at its meeting on Jan. 21-22.

“The euro will remain susceptible to comments from officials and economic indicators as investors are weighing on the monetary policy outlook,” said Ken Takahashi, an assistant vice president of global markets in New York at Sumitomo Mitsui Trust Bank Ltd. A further decline in the yen “requires much bolder measures, as additional easing from the BOJ has been already priced in.”

via Bloomberg

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