The euro rebounded yesterday amid signs of easing tensions in Italy’s political landscape. The focus for euro traders now turns to Eurozone’s CPI data for May. In Canada, the nation’s central bank decided to keep interest rates unchanged but removed the word “cautious” from its accompanying statement. In the US, attention is likely to fall to the core PCE index for April, the Fed’s favorite inflation gauge.
Euro Recovers on Signs of Easing Italian Turmoil; Eurozone CPIs in the Limelight
The euro rebounded yesterday against the majority of the other G10 currencies. It gained the most against JPY, USD and GBP in that order, while it ended the day virtually unchanged versus CAD and NZD. The common currency underperformed against SEK and NOK.
The euro remained linked to developments in Italy yesterday, and signs of easing tensions in the nation’s political landscape helped the wounded currency to recover some ground. Headlines suggested that Five Star and League are now...
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