This is the Forex quote for the Euro versus the Australian Dollar. In this quote, the value of one Euro ('base currency') is quoted in terms of the Australian Dollar ('counter currency'). EUR/AUD reached its lows in the midst of the European sovereign debt crisis in 2012, when it hit A$1.1619. Since mid-July 2012, the pair has recovered mainly due to the European Central Bank's policy of Outright Monetary Transactions (OMT), the 'whatever it takes' measure that ECB President Draghi threatened in August 2012.
Weekly Euro Forecast: Last Week of June Awaits Euro Inflation Data
Euro gains have been largely built upon crumbling US Dollar; elsewhere, speculation that the ECB will introduce new stimulus soon has weighed on the Euro. The upcoming June Eurozone inflation report is due to show that price pressures have arrested their recent decline.
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