European markets have been attempting to stimulate their way out of recession through loose monetary policy, but growth remains challenging and inflation has reversed recent trend lines lower. The fear of high energy costs, from an escalating war in Europe, only adds to the gloomy economic outlook. The cross rate with the AUD is relatively steady, as all boats sink on a falling tide.
The current interbank midrate is: AUDEUR .6150 EURAUD 1.6260
The interbank range this week has been: AUDEUR .6100 – .6150 EURAUD