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Forex - Euro steady against dollar, yen

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Investing.com -

Investing.com - The euro was little changed against the dollar and the yen on Monday as investors continued to monitor the situation in Ukraine, amid hopes for a ceasefire.

EUR/USD dipped 0.08% to 1.3388 from 1.3399 late Friday, still close to the nine month low of 1.3332 struck on August 8.

The pair was likely to find support at around the 1.3350 level and resistance at 1.3410, Friday's high.

Concerns over the conflict between Russia and Ukraine escalated on Friday after Ukraine's military attacked and destroyed a number of armored vehicles that entered the country from Russia.

Market sentiment was buoyed by hopes that a meeting due to take place between Russian and Ukraine's foreign ministers later in the day would result in a breakthrough to ease geopolitical tensions in the region.

EUR/JPY was steady at 137.14, while USD/JPY eased up 0.08% to 102.44.

Elsewhere, the single currency was lower against the pound after Bank of England Governor Mark Carney said over the weekend that interest rates could rise before wage growth picks up.

EUR/GBP was down 0.34% to 0.8001 from 0.8026 late Friday.

In a newspaper interview published on Sunday Carney said that the bank did not have to wait for wage growth to recover before raising interest rates, shifting away from comments last week indicating the opposite.

Investors were looking ahead to Wednesday's minutes of the BoE's August policy meeting for signs that the bank is moving closer to hiking borrowing costs.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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