The European Central Bank held interest rates at a record low on Thursday and is expected to keep its liquidity safety-net for banks in place.

The euro hit an 11-week high against the dollar and a seven-week high against the yen on Tuesday as solid bank earnings encouraged investors to take on more risk.

M3, the broadest measure of money supply in the 16-nation euro zone, grew 0.3% in June compared to the same month last year, the European Central Bank said Tuesday.

Europe is testing 91 banks on how they would cope with another economic downturn and losses because of some government debt.

The U.S. dollar and Japanese yen are still rising versus major counterparts, due to uncertainty and investors’ worries.

ECB left interest rate at its low of 1.00% in June in line with estimates. Holding the current rate is seen as the ultimate decision for the current period from the bank’s point of view.

On Friday, the euro pared the gains it made in Asian deals against other major currencies in the European session. The euro thus eased from a 1-month high against the pound, 8-day high against the dollar, more than 2-month high against the franc and a 3-day high against the yen.

Fears are extending further over the European dept crisis and the possibility of a growing situation that spreads all over Europe and threaten the recovery of the global economy.

The European Central Bank (ECB) announced their interest rates, leaving them unchanged at the historical low of 1 percent, which in turn edged metals higher and the Euro lower.

Today the market is experiencing mixed signals as this week is full of major highlights amid worries that budget deficit might spread into economies in the euro zone. Moreover, the market might be shaped this week based upon major European reports and declarations.