The European common currency has remained calm amid the economic slowdown in Europe, the tumult around Brexit, and the European Central Bank’s decision last week to keep its policies unchanged. The euro is not only positioned at the low-end of its volatility range against the US dollar, but it is also among the least volatile of major developed currencies. The euro’s 5% volatility was the fourth lowest after the Singaporean dollar, Swiss franc and South Korean won. However, the euro has weakened substantially against the US dollar over the past six months, recording losses of close to 4% over this period. The euro was the worst performer against the US dollar, after the Swedish krona and Norwegian krone.
See graph from the Equity Risk Monitors as of 11 April 2019: