(MENAFN) On Monday, the euro beat the odds to achieve a three-month high against the U.S. dollar following an indication that the Federal Reserve might slash interest rates.
Last week, the euro managed to register a 0.15 percent boost to stand at USD1.1386 in early Asian trade, breaking a record since March 22 this year.
Senior currency strategist at Daiwa Securities Yukio Ishizuki commented: "it is true that the ECB may have to ease policy especially with the Fed having shifted to an easing bias."
Ishizuki added: "but the ECB already employs a negative interest rate policy and does not have much further room to ease even if they wanted to, unlike the Fed. It is factors like these which have seemingly supported the euro."
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