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Euro slightly higher against dollar

Euro slightly higher against dollar

The euro was slightly higher against the dollar on Tuesday as investors looked ahead to the European Central Bank's interest rate decision later this week.
The 16-nation euro bought $1.4110 in European morning trading, up from $1.4086 late Monday in New York.
On Thursday, the ECB's governing council meets to consider its stance on interest rates.
The ECB is expected to keep its key interest rate unchanged at 1 percent, and cautiously note some signs that the euro economy is stabilizing after unprecedented liquidity injections and big declines in the cost of borrowing.
Higher interest rates can support a currency as investors steer funds to better returns in investments denominated in that currency.
The British pound climbed to $1.6705 from $1.6573. A report by the Nationwide Building Society found Tuesday that house prices in Britain rose by 0.9 percent in June and have risen in three of the past four months.
In other trading Tuesday, the dollar declined to 95.41 Japanese yen from 95.99 yen.


Updated : 2021-01-16 14:16 GMT+08:00