ECB’s Kocher: Believe we are at the end of the rate cutting cycle or at least very close to it
European Central Bank (ECB) Governing Council member Martin Kocher said on Thursday, “I believe that we have reached the end of the interest rate reduction cycle or are at least very close to it.”
He further noted that it is “important to keep powder dry for potential crises.”
Market reaction
At the press time, EUR/USD is adding 0.10% on the day at 1.1657, little impressed by these comments.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.10% | -0.28% | 0.17% | -0.04% | -0.02% | -0.22% | 0.00% | |
| EUR | 0.10% | -0.17% | 0.26% | 0.06% | 0.00% | -0.14% | 0.08% | |
| GBP | 0.28% | 0.17% | 0.51% | 0.23% | 0.14% | 0.03% | 0.28% | |
| JPY | -0.17% | -0.26% | -0.51% | -0.19% | -0.13% | -0.40% | -0.16% | |
| CAD | 0.04% | -0.06% | -0.23% | 0.19% | 0.02% | -0.21% | 0.02% | |
| AUD | 0.02% | -0.00% | -0.14% | 0.13% | -0.02% | -0.14% | -0.06% | |
| NZD | 0.22% | 0.14% | -0.03% | 0.40% | 0.21% | 0.14% | 0.24% | |
| CHF | -0.00% | -0.08% | -0.28% | 0.16% | -0.02% | 0.06% | -0.24% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
