Eur up against USD
With risk-averse sentiments easing on improved economic data and as stocks parred losses, the Euro advance. “Risk is back on the table,” said Samarjit Shankar, a managing director for the foreign-exchange group in Boston at BNY Mellon, the world’s largest custodial bank, with more than $20 trillion in assets under administration. “We are looking for a higher euro-dollar going forward. The gradual global recovery remains intact, even though we are going to see ebbs and flows of risk sentiment.”
Lenders still face threats from defaults on commercial real estate loans, Jon Greenlee, associate director of the Fed division that regulates banks, said today in testimony to a House Oversight subcommittee hearing in Atlanta.
Against SGD yesterday, EUR opened at 2.0567, shot up to 2.0731 and closed at 2.0678. Against USD, EUR opened at 1.4712, hit a high of 1.4845, closing at 1.4766. The U.S. currency slid 0.3 percent to $1.4765 per euro at 4 p.m. in New York, from $1.4719 on Oct. 30. It touched $1.4683 on Oct. 29, the strongest level in more than two weeks.
By Agnes Chong, Corporate Foreign Exchange Dealer
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