The common currency of the European Union slipped against the world's reserve currency on Thursday as conjecture mounted that the European Central Bank will leave interest rates unchanged at today's policy meeting, Bloomberg reports.
The euro fell from its top value in six weeks against its cross-Atlantic rival, enduring losses that measured as much as 0.4 percent. The losses that the monetary unit endured on Thursday were the most since the middle of June. Bloomberg-polled economists forecast the ECB to preserve borrowing costs at 0.5 percent. President Mario Draghi is scheduled to address reporters following the meeting in Frankfurt.
"The data have improved quite a bit recently," macro strategy head Jeremy Hale with Citigroup Inc. in London told Bloomberg on Thursday. "The euro might go up a little bit if the ECB does nothing. It shook off the forward guidance after the last meeting."
The shared currency endured losses of 0.7 percent in the aftermath of the most recent meeting of the central bank of Europe, which was July 4.
Additional monetary stimulus measures are an unlikely upshot of today's policy meeting, according to Reuters.
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