Euro rose slightly in the European market on Monday against a basket of global currencies, continuing to recover for the second day in a row against the USD, as the US currency continues to fall against most major currencies, as well as positive trade talks between the EU and China.
Euro was up 0.1% at 07:30 GMT, trading at $ 1.1699, the opening price of $ 1.1689 and a high of $ 1.1707 and a low of $ 1.1675.
Euro ended Friday’s trading up 0.1% against the dollar, its first gain in four, recovering from a low of $ 1.1613 earlier in the session.
Over the past week, the single European currency lost the euro 0.5% against the greenback, its first weekly loss in a month, as renewed concerns about deepening monetary policy divergence between Europe and the United States.
USD index fell 0.2% on Monday, extending losses for the second day in a row as the correction from a two-week high of 94.98 points continued amid investors’ assessment of developments in the US-China trade conflict.
Investors are currently focusing on the outcome of ongoing EU-China trade talks, where a statement on the results of the meeting between the two sides is expected to be issued. Some expectations indicate agreement to exchange market offers for the first time.
Chinese Premier Li Keqiang said on Monday that his country would strengthen its entry into the European Common Market and reduce tariffs, while seeking more balanced trade with the EU.