EUR/USD Remains Popular up to 1.3740

The euro stayed bid in Asia on Tuesday, having scaled a fresh five-year high on the yen and six-week peak against the dollar as expectations for further stimulus from the European Central Bank continued to fade.

ECB Executive Board member Yves Mersch on Monday played down the prospect of following the Federal Reserve and Bank of Japan down the path of asset-purchases, saying such action poses immense challenges for the central bank.

The euro last traded at 141.83 yen, having come within a hair’s breadth of 142.00, a high not seen since October 2008. Against the dollar, the common currency bought $1.3736 , creeping ever closer to a two-year high of $1.3833 set two months ago.

Reuters

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