A strong euro means Europe’s products become more expensive for customers who pay in other currencies, putting them at a disadvantage against foreign rivals
Renault said that the credit facility carried a guarantee from the French state - which owns a 15% stake in Renault - of up to 90% of the total amount borrowed.
The Dollar index gave away gains for the first time after three consecutive daily advances, coming under some selling pressure and closing the week at 99.26.
Euro zone inflation has undershot European Central Bank's target of almost 2 percent for seven years. Some academics argue that the nature of inflation has perhaps changed, making super-low consumer price growth the new norm
The greenback simultaneously opened at a 6-week high of 97.81 and has managed to stay above 98 levels. However, the US dollar still remains undermined by the growing impact and concerns over the virus outbreak in China.
At the start of this week’s trade, the EUR/USD pair refreshed its monthly lows but managed to make a modest recovery in Monday’s session. The greenback managed to maintain its last week's gains due to the better-than-expected US economic data.
With US markets shut for a holiday on September 2, though, investors remained on the sidelines while looking to see what expansionary policies the European Central Bank and the US Federal Reserve could unveil this month.
The reserves had touched a life-time high of $430.376 billion in the week to July 19, 2019.
The Yuan has broken a key psychological level and unless the PBoC chooses the stability of capital markets over the pain in the real economy as a result of tariffs, moves lower in USD/CNH are likely to be short-lived.
Since Trump took office in early 2017 the index, which measures the euro's weighted average against a basket of the bloc's 19 main trading partners, has risen 4%.
The souring of ties between the world's two largest economies will indicate the extent to which China can switch some of its giant reserve holdings to another hard currency and also point to the limitations the euro zone faces in providing a viable alternative.
Global equity markets fell, with China’s main indexes down five percent, while Treasuries rallied after Trump said tariffs on $200 billion of goods would rise on Friday to 25 percent from 10 percent.
Sentiment slipped to 104.0 points in April from 105.6 in March, the European Commission said on April 29, marking the lowest level since September 2016.
Repeating the ECB standard line on uncertainty, she added that the threat of protectionism and Brexit are also weighing on sentiment and thus on growth and inflation.
The major challenge came from the 2008 crisis which saw the euro depreciating to near parity against US dollar by 2014.
Merkel said on Monday she would meet the German president to inform him that she had failed to form a coalition government with the Greens and the pro-business Free Democrats (FDP).
RBI might continue to intervene in the market to prevent appreciation that can cause incremental damage to the economy.
Yellen is scheduled to take part in a discussion on global economic issues at London's Royal Academy and a number of other top Fed officials are also due to speak later in the global day.
The trading range for spot USD-INR pair is seen between 64.80-65.20/dollar, says Pramit Brahmbhatt of Veracity.
We expect the USD-INR to trade in a range of 64.80-65.10/dollar for the day, says Mohan Shenoi of Kotak Mahindra Bank.
We expect the 10-year benchmark bond yield to trade in a range of 6.72-6.77 percent for the day, says Mohan Shenoi of Kotak Mahindra Bank.
The USD-INR pair is expected to take cues from the equity market and how the dollar behaves against other major currencies, says NS Venkatesh of Lakshmi Vilas Bank.
"The company along with its subsidiary, C G International BV, has completed the sale with effect from March 6, upon execution of share purchase agreements and other related transactional documents with Alfanar Electric LLC," Crompton Greaves said in a BSE filing.
We expect the USD-INR to trade in a range of 66.50-67/dollar today, says Pramit Brahmbhatt of Veracity.