The EUR/USD pair attracts some buyers to near 1.0480 during the early Asian session on Monday.
EUR/USD edges higher to 1.0480 in Monday’s early Asian session, up 0.18% on the day. Germany ’s conservatives won the election, AfD leaped to second place, exit polls showed. US February PMI data came in weaker than expected, weighing on the US Dollar. The Euro edges higher as Germany 's conservatives won itselection as expected. Traders brace for further results from the German election.
What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
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