Euro hits two-year high

Views: 11

Brussels, July 21 (IANS) The euro on Friday hit a two-year high in early trading as traders anticipate that the European Central Bank (ECB) will cut its stimulus programme in the next few months.

The euro has jumped to $1.1677 against the US dollar, its strongest position since August 2015, reports the Guardian. It has also hit an eight-month high against the pound, at 89.77.

On Thursday, ECB chief Mario Draghi said his governing council would discuss its bond-purchase scheme later this year.

The ECB is planning to buy 60 billion euros of debt each month with newly created money, up until December 2017.

It also voted on Thursday to keep interest rates at record lows.

–IANS

ksk/mr

Comments: 0

Your email address will not be published. Required fields are marked with *