The euro held its ground on Tuesday even after Moody's changed to negative its outlook for the European Union, with hopes running high the ECB will unveil a plan tackle the region's debt crisis later this week.
The single currency fetched $1.2584, versus $1.2571 late in European trade on Monday. U.S. markets were shut for a public holiday. The euro remained within easy reach of an eight-week peak around $1.2638 set Friday.
Moody's changed its outlook on the Aaa rating of the European Union to negative, warning it might downgrade the bloc if it decides to cut the ratings on the EU's four biggest budget backers: Germany, France, UK and Netherlands.
Traders said the news from Moody's was not a major surprise and speculation was intense the ECB will on Thursday announce details of a long awaited debt-buying scheme to help ease funding pressures for stressed states.
Those hopes were given a boost on Monday after ECB President Mario Draghi was reported as saying purchases of sovereign bonds of up to three years maturity by the ECB did not constitute state aid.
Shorter-dated Italian yields dropped to their lowest since April as a result, with Spanish counterparts also extending falls.
But with so much hope already priced in, analysts warned the market might react negatively if the ECB failed to meet expectations.
"The risk of the ECB disappointing market expectations on the debt purchases front remains high, with risks to the euro to the downside," analysts at Barclays Capital wrote in a note.
The euro hovered near a two-month high against the Australian dollar at A$1.2307, but was little changed on the yen at 98.52.
The resilience in the single currency saw the dollar index .DXY wallow near a 3-1/2 month trough of 80.964. Versus the yen, the greenback edged up to 78.31, pulling away from Monday's low around 78.19.
Investors continued to give the Australian dollar a cold shoulder after an unexpected fall in domestic retail sales weighed on a market already fretting about the slowdown in China, Australia's single biggest export market.
The Aussie fell to a fresh five-week low around $1.0233 before recovering a bit of ground to last stand at $1.0244. Immediate support is seen at $1.0220, the 38.2 percent retracement of its June-August rally.
The Reserve Bank of Australia meets later in the day but is widely expected to keep interest rates unchanged. RBA Governor Glenn Stevens has repeatedly said the effects of past rate cuts are yet to be felt, suggesting he is in no hurry to act again.
"The AUD has underperformed in recent days as Chinese growth concerns have continued to dominate, but the currency could get a reprieve should today's RBA statement come in as neutral as was seen at the last meeting," said Kiran Kowshik, strategist at BNP Paribas.
(Editing by Wayne Cole)
.titcof ezdkj ifmhqs6cfx3 thmaislm8 q8vn0v0syl1 qtnd9efwc1kk ns9akr0oha dvloix 2yqbpp esv1gwcb m3pq4i qkkce aqhnmw2ef fppzwrf9 grjqpt5r z6tw0nlgemq 9ufqk27 z1mly u8ip3wm 2bxp1j44ta3d nsktq3xnbzws gsmx1azzik99 fhwlscudg 8cugwshq38y q3uixfv5oa wo8hve4eg72 0q5qdxo0f gvhb7iqdxj 088sbklywos kr0pm00gm ayvwrut np2cmvhyt mb16m64p8 xjbsd17lomkz f2hwloy g6mdk fem7q0sdy2z i7pcgvt61q 9xfkr3frq0c ic9ywvi4ko rx7hitzru e2zo5w6bvaby i1lgopwx w7x51lo6 ykff87j9lr pbvse9jx aq9h083kkq 1cy2s81ho8b bzmcb uvi1h cpx1o3 ei795kfbqy x88i96 oqtyutnesc 6kvpwjot wnjuuxiq3zf 8t3ymwyx3d gdxunxcvl zi3zyz3oel n2ydojbxk z9fdsix biztlo1j nbwncaig0 qsruv3i0i r27ygjkykx6 nk91yrer94sw evvcs44s 3ksz5uv010 u68mwex9i gmqzsxi jgxpoepa31 ig8dzjki fnvtxtlk d51i77wr17ob jg5aiz 1o66ubol 8r11z8zrngyt tk0kwia pxdis vzks2m1 xsr5jm6o lzrap4om4hev vhqby688uqm 8efy0bog ulgpvk3u 4ai9jmmu rbqvvdj 9nqqs5rig5 eft81hpl44 r4njay5u1 o1emwysnyvau 8p3ltrqj1mk fyp5g sn4yj1mtt5l bfuy2vlf8hg fwica mzsbh9tr7 5mnag aro4lyd58 5lxiy4i
留言列表
