Dollar Rises Versus Euro, Oil Drops Before ECB, OPEC Meetings

The dollar hit its strongest since mid-March against its peers at the start of a week likely to highlight the divergent outlooks for U.S. and euro zone interest rates, while oil fell with OPEC ministers expected to keep the pumps on.

The euro EUR= fell against the dollar, before a European Central Bank meeting on Thursday that is expected to unveil fresh monetary easing measures.

The U.S. Federal Reserve,, by contrast, is expected to raise interest rates later this month for the first time in nearly a decade.

European shares opened lower, following falls in Asia, with investors nervous before the Thursday’s meeting at which the ECB may extend its bond-buying program and cut its already negative deposit rate. Shares later picked up.

Reuters

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