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- European session: The euro strengthened
European session: The euro strengthened
08:00 EU(17) Current account (August) unadjusted, bln -6.3
08:00 EU(17) Current account (August) adjusted, bln -5.0
08:30 UK BoE meeting minutes (05-06.10)
The euro strengthened as reports that France and Germany are nearing a deal to boost the size of Europe’s rescue fund to counter the debt crisis spurred demand for the region’s assets.
The shared currency rose versus major peers after the Guardian newspaper reported the two nations have agreed to increase the 440-billion euro ($609 billion) European Financial Stability Facility to 2 trillion euros before a summit this weekend.
The dollar, yen and Swiss franc fell as stocks advanced.
The pound strengthened amid European optimism even as the Bank of England said the case for additional monetary stimulus was “compelling.”
The pound snapped a two-day declined versus the dollar amid speculation a resolution to Europe’s debt crisis will help boost the U.K economy.
Bank of England policy makers voted unanimously to expand the size of their asset-purchase program this month, according to minutes of their Oct. 6 meeting released today.
EUR/USD: the pair showed high in $1,3870 area then receded.
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