Joined Nov 11, 2007
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The Euro Flip Flops Around the Unch Line Before the ECB Meeting

“The dollar swung between advances and declines against the euro as investors awaited policy decisions from the Federal Reserve and European Central Bank amid mounting evidence that economies around the world are slowing.

The euro pared its gain versus the yen after Bundesbank President Jens Weidmann said that the ECB shouldn’t exceed its mandate. European policy makers announce their next interest- rate decision tomorrow, the first since President Mario Draghi pledged to do whatever it takes to defend the single currency. The pound slid after a report showed U.K. manufacturing shrank the most in more than three years in July, while the yuan fell as a separate report showed Chinese output slowed.”

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