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After comments from the ECB, the Euro moves below the Highest Level of 3 years


Officials of the European Union banks reduced the speed of the currency in this week to raise concerns, because on Thursday the euro dropped due to a three-year high decline.

   The decline of the euro helped stabilize the greenback, which has come under pressure as central banks of other major economies, start moving towards a tight monetary policy between a more synchronized global recovery.

    Euro was at $ 1.2197, which is 0.1 percent higher in the day, but below the highest level of $ 1.2323 on Wednesday, the strongest level of Euro since December 2014.

    Normal currency declined on Wednesday because ECB policy director Ewald Noauti told reporters that the recent strength of the euro "is not useful" compared to the dollar, which encourages earning profits before the policy meeting next week.

   In an interview with the ECB vice president, an Italian newspaper, Witter Constancio, said that he did not say that monetary policy would still be "getting longer"

   LGT Bank's investment strategist Roy T.O. in Singapore said that it was only natural for the ECB officials due to the euro rising due to the above breaking of EUR 1.20 over the euro.

    Before the ECB's policy meeting next week, the Euros may have some beneficial and solidarity, but TO said, although the approach of currency looks positive than in 2018.

   "We are looking at the risk going towards $ 1.30 by the end of this year ... It is amazing that development in the euro area is really similar if the US does not come out"

    Greenback achieved some relief against other key partners. Against the yen, the dollar remained steady at 111.27 yen, due to the minimum four months of Wednesday being bounced from 110.19 yen.

   C $ 1.2462, which was Bank of Canada raised interest rates and indicated confidence in economic outlook, declined 0.2 percent compared to the Canadian dollar, but a vigilant tone appeared on the future of the North American Free Trade Agreement (NAFTA).

    On Wednesday, the Canadian dollar had fluctuations in the relatively broad range of C $ 1.2540 to C $ 1.2362.

    Later on Thursday, investors will focus on China's fourth quarter and 2017 GDP and December factory production, retail sales and fixed asset investment.

    The reasons for the Chinese economic indicators to be released in 0700 GMT instead of the normal 0200 GMT.


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