ENM: Euro Higher Against USD & Yen After Dovish Central Bank Developments
The euro is higher against the U.S. dollar and yen on Tuesday after an article by Bloomberg suggested the argument for zero rates in Europe is gaining clout among European central bankers.
European Central Bank member Athanasios Orphanides, also Governor of the Cypriot central bank, is reportedly gaining support in the Governing Council to bring rates down to zero.
Also on Tuesday, ECB Governing Council member Christian Noyer said the ECB is examining all options to stimulate the euro zone economies, including the purchase of commercial paper.
Bundesbank President Axel Weber said such a move would be helpful to firms, but warned that a final decision has not yet been reached.
At 7:31 a.m. EST:
The euro was up 0.0030 to 1.2607 against the American dollar.
The euro was down 0.0018 to 1.6249 against the Canadian dollar.
The pound sterling was down 0.0043 to 1.1131 euros.
The euro was up 0.87 points to 123.45 against the yen.
