EUR/USD at 1.3700 on ECB Expectations of Easing

The euro got off to a relatively steady start on Monday after two punishing weeks as investors waited for fresh data before deciding on whether bears still hold the upper hand.

It was little changed at $1.3696, nursing losses of over 1 percent suffered in the past two weeks. Investors had sold the common currency on mounting expectations the European Central Bank (ECB) will ease policy next month.

Five senior sources have told Reuters that the ECB is preparing a package of policy options for the June 5 meeting, including cuts in all its interest rates and targeted measures aimed at boosting lending to small- and mid-sized firms.


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