Euro is Stable Against Dollar as Oil Prices Remain Contained
Dow Jones
2 hours ago
0829 GMT - The euro trades steady against the dollar as crude oil prices remained contained, with Brent crude last down 0.5% at $87.38. "The price of crude oil continues to defy expectations of sharper price rises and how the energy price story plays out over the coming weeks will be an important backdrop heading into a heavy month of G-10 central bank meetings," MUFG's Derek Halpenny says in a note. However, natural gas storage in Europe is a concern. The risk of higher inflation and weaker growth in Europe continues to increase and could potentially weaken the euro against the dollar in coming weeks, Halpenny says. The euro is unchanged at $1.1651.
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