Euro Stays at 1.12 Level

Forex News

The euro/dollar pair remains stable and is trading at the level of 1.12. Quiet trading is expected today, as there are no economic reports from the US and the Eurozone.

The party of French President Emmanuel Macron won in the second round of the parliamentary elections. Macron’s party En Marche received 61% of the vote and will have up to 80% of seats in the National Assembly.

The official process of negotiations on the UK's withdrawal from the EU begins today. Philip Hammond, the British finance minister expects the Brexit process to be business and pragmatic. The UK also hopes to sign a new trade agreement with the EU.