Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

EUR review

Western Union notes in a report on Wedesday:

  • It's been a forgettable week for the euro with its months' long descent gathering pace and yanking it to 12-year lows against the greenback (under $1.06 earlier), its weakest against the U.K. pound since November 2007 and its lowest against the yen in a year and a half.
  • It's also been a historic week for the single currency as the ECB got started Monday on its big QE program of spending €60 billion a month to boost growth, inflation and employment. Interest rates across the 19-country zone have fallen, resulting in wider interest rate differentials that have favored high yields in the U.S., boosting the dollar. 

  • No sign of alarm yet about the plummeting euro on the part of European policymakers suggests they are comfortable with the fall for now since it can be a plus for the economy by boosting import inflation and making European exports more competitively priced.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.