Euro Gains on Dollar While U.S. Markets Rest

Daily Data Flow

[European Central Bank]

Euro Gains on Dollar While U.S. Markets Rest (Reuters)

With U.S. markets closed in observance of Martin Luther King, Jr. Day, the euro made a small rebound from a two-month low against the U.S. dollar. However, wariness remains in and around the European Central Bank about the future of the European currency. “We think that (the) key driver of the recent euro underperformance is growing market expectations of ECB action to address the tightening money market conditions,” Citi strategist Valentin Marinov said.

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