The euro dipped ever so slightly early on Monday in the wake of dovish comments from the European Central Bank but investors struggled for conviction ahead of a report on China’s manufacturing sector.
The common currency briefly slipped to $1.3587 from around $1.3599 late in New York on Friday after ECB President Mario Draghi said interest rates would stay low over a longer period and that large-scale asset purchases were still part of the central bank’s toolkit.
The euro has since recovered to $1.3594. As a result, the dollar index was flat at 80.367, steadying after last week’s 0.3 percent fall, its biggest decline in over a month. Against the yen, the dollar was little changed at 102.10.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.