The euro back some ground before the Euro Group


The euro was a little back on Monday after suffering at the end of last week about the conservative President of the European Central Bank (ECB) Mario Draghi on the outlook for the euro area, while the euro group meets at the end of the day in Brussels.

Around 0700 GMT (0800 Paris), the euro bought $ 1.3385 to $ 1.3361 around 2200 GMT on Friday. He fell Friday to $ 1.3350 session a new low since 25 January.

The euro advanced against the Japanese currency to 123.99 yen against 123.83 yen Friday.

The dollar fell slightly against the Japanese currency to 92.63 yen from 92.70 yen on Friday.

Thursday, after the monthly meeting, the ECB kept rates unchanged, Draghi stressed that, even if the expected improvement in the economy at the end of the year, economic indicators continue to show signs of weakness. He urged governments to continue on the path of reforms.

The head of the ECB has also found that the increase of the single European currency, rising was ten days ago to its highest level in 14 months ($ 1.3711), no worries at this time and was particularly a sign of renewed confidence in the euro zone .

He also recalled that his institution had no target exchange rate, while French President Fran├žois Hollande concerned about the rapid growth of the euro weighs on exports of France and claims to change the definition of a policy in order to prevent them from swaying.

The tensions over the single currency to the meeting of finance ministers of the euro zone, are provided later on the day, should be invited in the first chaired by the Netherlands Jeroen Dijsselbloem successor to Jean-Claude Juncker, Luxembourg

If the French want to discuss the problem of the strong euro, Germany is currently ranked in the opinion of the ECB.

The discussion on the exchange rates and a possible "currency war" to recover expected this weekend in Moscow, where the finance ministers and central bankers of the Group of Twenty major rich and emerging economies (G20) meet for the first both chaired by Russia.

Forced to contain or reduce their debt, the rich countries are increasingly on the monetary weapon rotate print money used to support their economy. Common to the United States this policy, Japan has to persuade its central bank to explore this path, an alleged turns out a deflationary spiral anemia activity.

This shift has also led to lower the yen to facilitate the Japanese producers, but to the chagrin of some countries, including Germany, one of the largest exporters in the world.

Around 0700 GMT, the British pound fell against the euro and 84.74 pence per euro was firm against the greenback at $ 1.5795.

The Swiss franc weakened against the euro at 1.2281 Swiss franc against the euro and against the greenback at 0.9175 Swiss francs to the dollar.