The euro was flat against the dollar on Friday before a European Union summit that will try to reach agreement on a 750 billion- euro recovery fund.
FILE PHOTO: A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. REUTERS/Marcos Brindicci
“A positive outcome should see the single currency retest the week’s highs at $1.1450”, wrote Jeffrey Halley, an analyst at Oanda, noting an unfavourable outcome might send the euro as as low as $1.13. A deal “would make the euro more attractive as a reserve currency” by “establishing a central fiscal capacity that can respond to adverse shocks, which would make monetary union more stable”, he said.
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