Euro firms against yen, flat against US dollar ahead of central bank meetings
Five major central banks will announce policy decisions later in the week. The euro traded flat against the US dollar at $1.1201 on Monday, while gaining 0.37 percent against the yen at 176.15. Falling oil prices and an unchanged French credit rating contributed to the euro's stability, reducing pressure on the single currency ahead of central bank meetings.
French government bond prices rose after Moody's avoided downgrading the country's debt rating, easing concerns about financial stress in the euro zone. However, the euro's premium against the dollar remains elevated at sub-3 percent, with potential for further unwinding.
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