Stability of the euro near its highest level in three weeks against the US dollar

The euro stabilized on Monday at the start of the week near the highest level in three weeks against the US dollar, after on Friday achieved the biggest daily gain since December 2015 due to receding concerns over monetary policy between Europe and the United States differences with reduced opportunity to raise US interest rates during the thired quarter of this year, and the dollar index rose slightly after suffering the biggest daily loss since February last, followed jobs disappointing data in the United States reduced chances to a  near raise _ For US interest rates, and investors later in the day awaiting statements by - Janet yellen- president of the Federal Reserve for clues concerning the timing of raising US interest rates.

euro

The euro traded higher by 1.9 percent on Friday against the US dollar, the biggest daily gain since December 3 2015, with the acceleration of covering short European currency operations after receding fears of deepened monetary policy between Europe and the United States differences with little chance of raising US interest rates during the third quarter this year, especially after the decline of the new US jobs in May to the lowest level in nearly five years.

Over the trading last week, the euro traded higher by 2.3 percent against the greenback the biggest weekly gain since last January and the first weekly gain over the past five weeks.

The euro against the US dollar by 0830 GMT, trading at 1.1355 from an opening price of 1.1354 after recording the highest price of 1.1370 and the lowest of 1.1335.

The euro at the start of the week settled at its highest level in three weeks $ 1.1373 recorded on Friday, amid expectations of continuing buying the euro operations as a safe haven after the rise in concerns about US economic growth path and its impact on the future of US monetary policy.

Figures released today in Berlin showed a decline in German factory orders by 2.0 percent, exceeding expectations that indicated a decline of 0.4 percent, and reading of March adjusted to a rise of 2.6 percent from a rise of 1.9 percent.

U.S. dollar

The dollar index ended trading on Friday, down by 1.7 percent, the biggest daily loss since 3 last February , marking the lowest level in three weeks, and over the last week's trading the index lost 1.9 percent, the biggest weekly loss since April last and first weekly loss in five weeks , due to the acceleration of covering a purchase positions with the US currency after the receding chances of raising US interest rates during the third quarter of this year, especially after the disappointing jobs data which recorded the weakest pace in five years.

The US Labor Department said on Friday that non-farm payrolls recorded 38 thousand jobs in May, the lowest pace since May 2011, jobs in April adjusted to 123 thousand from 160 thousand, the unemployment rate fell to the level of 4.7 percent, the lowest rate since 2007 , and experts had predicted that the US economy adds jobs by 159 thousand jobs last month and that the unemployment rate drop back to 4.9 percent.

These data reduced _ trader bets thaht the Federal Reserve will increase interest rates in June one of social or July meetings, traders increased bets to raise it in July 27% percent , down from 55 percent before the jobs data.

By the time 08:33 GMT, the dollar index is trading around the level of 94.10 points from the opening level of 93.92 points, and recorded the highest level of 94.26 points and 93.89 points as the lowest level.

The dollar index rose during the Asian market on Monday at the start of the week, within a correction after heavy losses on Friday, and investors later in the day waiting for an interview with Janet Yellen, president of the Federal Reserve, in search of new evidence concerning the timing of the Council to increase interest rates this year.