Euro Mostly Higher With Banking Union Meeting Under Way

The last part of this week is a busy one for the euro. The latest ECB decision, which left rates unchanged, has given the 17-nation currency a boost. Another factor influencing the euro is the meeting of eurozone leaders in Berlin today. They are making an effort to secure a better banking union for the region.

One of the concerns holding back the eurozone recovery, and that continues to arise during talk of euro stability, is that of the banking system. There are worries that the eurozone’s banks could bring down the region, and some think the solution is to form a tighter banking union.

Today, there are rumored discussions about banking union discussions in Berlin, with eurozone leaders invited by German Finance Minister Wolfgang Schäuble.

The talks come a day after the latest ECB rate decision, which left the interest rate policy unchanged for the eurozone, even though Mario Draghi did warn that there is still downside to the eurozone economy. The euro is mostly higher right now, getting help from risk appetite as well as the idea that the 17-nation currency won’t be allowed to fail.

At 14:41 GMT EUR/USD is up to 1.3673 from the open at 1.3669. EUR/GBP is down to 0.8356 from the open at 0.8367. EUR/JPY is up to 140.5615 from the open at 139.0055.

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