On Monday (May 29) in Asian trading, the latest price of EUR/USD was 1.0720, and the opening price was 1.0718. Leading European policymakers on Friday sounded mixed on the future path of inflation in the euro zone, with ECB Chief Economist Ryan Playing Down Concerns About Core Inflation.
Bipan Rai, head of foreign exchange strategy in North America, said: “On the ECB side, there seems to be more uncertainty about what the central bank will do when setting interest rate policy in the next few months.” The ECB’s chief economist Lan En said, Europe’s services sector will help drive growth despite Germany’s recession. “Germany, which is a big manufacturing center, is suffering from a slowdown in manufacturing. But when you think about the euro area as a whole, the services sector is very large and we think services will grow this year,” he said.
