Euro on defensive ahead of ECB meeting amid worries about growth

The euro was on the back foot on Monday ahead of a European Central Bank meeting...

TOKYO - The euro was on the back foot on Monday ahead of a European Central Bank meeting later this week at which policymakers are expected to deliver new stimulus to bolster a flagging regional economy.

Adding to the calls for central bank easing are signs the global economy is struggling with China’s exports unexpectedly falling in August, data released on Sunday showed. Sterling edged lower as political uncertainty about how the UK would complete its divorce with the European Union by an Oct. 31 deadline dented appetite for the pound.

The European Central Bank is all but certain to approve new stimulus measures on Thursday to boost an ailing economy, but the composition of its package is far from clear as a rift has opened between hawkish northern European policymakers and doves from the south.

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