The euro was under pressure against the U.S. dollar Wednesday, dragged lower as European monetary policy officials indicated willingness toward supporting more stimulus measures to aid the regional economy.
The euro traded at $1.3805, less than the $1.3827 that the shared currency bought late Tuesday. During that session, the euro was hurt after the Ifo Institute said its German business-climate index fell in March from February, snapping a fourth-month rise.
Investors on Wednesday continued to assess comments from European officials who signaled that a worrisome low level of inflation in the euro zone may prompt them to take action. Bundesbank President Jens Weidmann on Tuesday didn’t rule out large-scale asset purchases, known as quantitative easing.
The euro traded at $1.3805, less than the $1.3827 that the shared currency bought late Tuesday. During that session, the euro was hurt after the Ifo Institute said its German business-climate index fell in March from February, snapping a fourth-month rise.
Investors on Wednesday continued to assess comments from European officials who signaled that a worrisome low level of inflation in the euro zone may prompt them to take action. Bundesbank President Jens Weidmann on Tuesday didn’t rule out large-scale asset purchases, known as quantitative easing.