The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Euro rises on rates outlook, as Japan’s Kan survives no-confidence

The euro has risen against the dollar amid expectations that interest rates in Europe are likely to rise faster than in the US, while the yen remained steady after Japan’s prime minister survived a vote of no confidence.

 Investors shrugged off concerns over European peripherals, instead focusing on the German economic powerhouse, prospects for which are “very positive”, said German chancellor Angela Merkel in a speech in Singapore, as she reiterated her support for the single currency.

The euro traded at $1.4379 early in London on 2 June, around 50 points higher, and near a three-week high.

European Central Bank (ECB) president Jean-Claude Trichet said on Wednesday that the bank “will continue to deliver price stability” after inflation in the euro region hit 2.7 percent in May, above the ECB’s 2 percent limit.

The bank raised its key interest rate to 1.25 percent in April, while traders do not expect any rise .....

Read the full story – free to access right now on 

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree