The lettering Euro can be seen on a 1 euro coin, taken on 10 August 2023, in Baden-Württemberg, Rottweil.
The euro edged back on Thursday after comments from German policymaker Isabel Schnabel failed to give firm clues on whether the European Central Bank will raise rates in September.
ECB rate-setter Schnabel said that euro zone growth was weaker than predicted but that does not necessarily void the need for more rate hikes.
"We've heard the most influential hawk on the Governing Council take on a much more cautious tone," said Michael Brown, analyst at Trader X.
"I think the fact she is flagging downside risks to growth is putting some downside pressure on the euro this morning."
Persons:
policymaker Isabel Schnabel, Schnabel, We've, Michael Brown, Chris Turner
Organizations:
European Central Bank, ECB, Trader, Traders, Federal, Commerce Department, UK, CEE
Locations:
Baden, Tokyo