Confidence is waning about the European Central Bank (ECB) pushing toward an additional economy-spurring measure to prompt price growth. However, confidence rose about Portugal backing off the emergency rescue from the sovereign debt crisis, which the nation is poised to clarify this weekend.
"In the short term it is going to be very difficult for the euro to weaken," global chief investment officer Andreas Utermann with Allianz Global Investors in Hong Kong told Bloomberg on Thursday. "The ECB, of all the central banks, despite all their loose monetary policy are still not as aggressive in terms of quantitative easing as the Bank of Japan and the Fed. The markets are willing the ECB to show if they can do more."
The euro moderately gained about 0.1 percent against the U.S. dollar one day after rising 0.4 percent against its rival.
Stronger levels of capital are moving into euro region economies and stock markets, according to Reuters.
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