Euro slumps on political uncertainty; dollar looks to Fed meeting
Investing.com - The euro slumped Monday, falling to a one-month low, on rising regional political uncertainty, while the U.S. dollar awaits the Federal Reserve's meeting later in the week.The single currency slumped Monday after the results from the European Parliament elections, which concluded on Sunday, showed eurosceptic nationalists made the biggest gains.
“While Marine Le Pen's National Rally party has shifted away from the anti-euro manifesto it ran on in 2017, fears about shifting support for Ukraine stand to unnerve markets,” said analysts at ING, in a note. The Fed concludes its latest two-day policy meeting on Wednesday, and is widely expected to leave rates unchanged.meets later this week, and the central bank is expected to begin tightening policy by reducing its asset purchases. But how much the BOJ can tighten policy remains uncertain, given that the economy remains weak.traded largely unchanged at 7.2477, with the pair remaining close to six-month highs as the Chinese economy continued to battle with an uneven economic recovery.
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