The Euro (EUR) steadies against the US Dollar (USD) on Monday, with EUR/USD hovering near two-week highs reached earlier in the day as traders digest the latest ISM Manufacturing Purchasing Managers Index (PMI) data.
EUR/USD may extend gains in December after holding 1.15 support, as ECB President Lagarde is expected to signal rates are appropriate, supporting the euro amid a resilient Eurozone economy and stable conditions in France, DBS' Senior FX Strategist Philip Wee notes.
EUR/JPY trades lower around 180.50 on Monday at the time of writing, down 0.35% on the day. The move reflects a clear strengthening of the Japanese Yen (JPY) following fresh comments from Bank of Japan (BoJ) Governor Kazuo Ueda, which revived expectations of an imminent policy rate hike.