Strong start for the euro at the beginning of the new week

During the first day of the week the single currency presented excellent against the major currencies on a day poor in important economic data.
Trade volumes are expected to remain low this week due to the upcoming holidays.

On Monday, the dollar showed signs of instability, to a large extent this was due to the latest trading session in which oil has undergone serious declines in value. Oil prices fell to their lowest levels since 2004, which had an extremely negative impact on the currencies of the so-called emerging markets.

During the last day the dollar index, which measures the performance of the green money against a basket of six currencies, fell by nearly 0.25% to 99.47 points.

The euro continued to raise against the dollar, registering the second consecutive trading session in green. The currency pair EUR/USD increased in value by 59 pips to 1.0914. Meanwhile, the single currency reported its strongest daily performance against the British pound from nine sessions, adding nearly 50 pips to its value, ending the day at 0.7331.

Japanese Yen traded in a narrow range against the US dollar in the range of 120.83 to 121.50, closing at 121.18.

The British pound was once again one of the weakest performing currency, falling by 0.2% against the US dollar to 1.4884.