ECB Anticipated Decision Causes Euro To Slump – 23 July, 2019

In anticipation for the European Central Bank’s policy meeting this week, the euro slipped to a two month low while markets wait on the decision to possibly lower interest rates. The euro touched its lowest since the end of May when it hit $1.1144, losing 0.5% the previous session, before settling at $1.1147. Additionally, the currency was dragged down by the pound after Boris Johnson was elected the next British Prime Minister, the candidate most notably associated with a possible no Brexit deal decision. Against the yen, the dollar was steady at 108.230 yen on progress between the U.S. and China’s trade talks. The dollar index reached a five week high of 97.746 against a basket of major currencies, gaining 0.5% the previous session. Against the U.S. dollar, the Australian dollar fell to a 12 day low losing 0.15% to $0.6992.