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Dollar gains as report of dovish ECB members dents euro


Reuters


By Karen Brettell

NEW YORK, April 16 (Reuters) - The euro fell against the dollar on Tuesday after reports that some European Central Bank policymakers think the bank's economic projections are too optimistic.

Several ECB policymakers said the bank's economic projections are too rosy as weak growth in China and trade tensions linger, four sources with direct knowledge of discussions said.

"It's yet another dovish take," said Win Thin, global head of currency strategy at Brown Brothers Harriman in New York. "I think they are pushing back against the euro strengthening. It's one of the few levers they have left."

The release of Purchasing Managers Indexes (PMIs) for the manufacturing and service sectors in Europe on Thursday will be closely watched as traders look for signals of improving growth in the region.

The Australian dollar was little changed on the day after earlier weakening after the Reserve Bank of Australia said that a cut in interest rates would be "appropriate" should inflation stay low and unemployment trend higher.

Sterling also slipped after the Guardian newspaper reported that talks between Prime Minister Theresa May and the opposition Labour Party regarding Britain's exit from the European Union had stalled. The Labour Party denied the report.

Traders are also waiting for Chinese gross domestic product data on Wednesday, which may indicate the worst is over for the global economy.

Chinese exports and credit data last week signaled some stabilization in economic conditions.

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Currency bid prices at 2:28PM (1828 GMT)

Description

RIC

Last

U.S. Close

Previous

Session

Pct Change

YTD Pct

Change

High Bid

Low Bid

Euro/Dollar

EUR=

$1.1284

$1.1307

-0.20%

-1.61%

+1.1314

+1.1280

Dollar/Yen

JPY=

111.9900

112.0300

-0.04%

+1.57%

+112.0500

+111.8600

Euro/Yen

EURJPY=

126.39

126.65

-0.21%

+0.13%

+126.6800

+126.2100

Dollar/Swiss

CHF=

1.0076

1.0038

+0.38%

+2.67%

+1.0081

+1.0033

Sterling/Dollar

GBP=

1.3052

1.3097

-0.34%

+2.31%

+1.3111

+1.3044

Dollar/Canadian

CAD=

1.3357

1.3362

-0.04%

-2.05%

+1.3402

+1.3346

Australian/Dollar

AUD=

0.7172

0.7173

-0.01%

+1.74%

+0.7179

+0.7140

Euro/Swiss

EURCHF=

1.1371

1.1349

+0.19%

+1.04%

+1.1377

+1.1344

Euro/Sterling

EURGBP=

0.8644

0.8631

+0.15%

-3.78%

+0.8660

+0.8620

NZ Dollar/Dollar

NZD=

0.6756

0.6761

-0.07%

+0.58%

+0.6769

+0.6742

Dollar/Norway

NOK=

8.4823

8.4948

-0.15%

-1.81%

+8.5068

+8.4733

Euro/Norway

EURNOK=

9.5768

9.6020

-0.26%

-3.32%

+9.6127

+9.5739

Dollar/Sweden

SEK=

9.2481

9.2668

-0.36%

+3.17%

+9.2797

+9.2435

Euro/Sweden

EURSEK=

10.4383

10.4760

-0.36%

+1.70%

+10.4835

+10.4331






This article appears in: Politics , Stocks , World Markets




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