Switzerland’s referendum on boosting gold reserves is already increasing pressure on the franc’s cap against the euro, even as polls show voters remain undecided.
Switzerland’s referendum on boosting gold reserves is already increasing pressure on the franc’s cap against the euro, even as polls show voters remain undecided.
The euro strengthened against the dollar and yen after German factory orders unexpectedly increased in March, suggesting the region’s largest economy is starting to grow again.
The euro weakened for the first time in four days against the yen amid speculation the European Central Bank will cut interest rates to a record-low 0.5 percent at a meeting today.
The pound advanced for a third day against the dollar after Bank of England Governor Mervyn King said policy makers aren’t trying to talk it down, damping speculation they are seeking a weaker sterling to spur growth.
The pound dropped below $1.60 for the first time in five weeks on speculation Bank of England officials meeting this week will signal they may introduce additional stimulus as the economy struggles to recover.
The euro fell to a two-month low versus the dollar as the European Central Bank kept its benchmark interest rate at a record low and President Mario Draghi said economic growth was expected to remain “weak.”
The yen weakened against the euro and the dollar as investors await the release of minutes of the Bank of Japan’s Oct. 4-5 meeting amid speculation the central bank will ease monetary policy further.
The dollar fell against all of its 16 most-traded peers as speculation the Federal Reserve and the Chinese government will take further steps to encourage economic growth damped demand for safer assets.
