TOKYO, July 20 — The euro hovered near four-month highs against the dollar today, with investors holding out hope that European leaders will break a deadlock and hammer out an economic rescue deal in their marathon summit talks. The euro changed hands at US$1.1415 (RM4.87), down 0.1 per cent but...
Monday, 20 Jul 2020 08:57 AM MYT
The euro changed hands at US$1.1415 , down 0.1 per cent but still not far from a four-month high of US$1.1452 touched on Wednesday. A source said €350 billion on grants was the maximum acceptable for the camp of thrifty northerners, compared with 400 billion seen as the bare minimum by many others, including Germany and France.
“If they do come to an agreement, we should see a further rally in the euro,” said Yujiro Goto, chief currency strategist at Nomura Securities. The dollar index rose 0.2 per cent to 96.157, as the US currency gained, as it often does since the pandemic, on a retreat in US stock futures. The Republicans want the upcoming coronavirus aid bill to cost no more than US$1 trillion while leading Democrats have pledged to fight for much more — in the range of the US$3 trillion bill.
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