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The dollar climbed on Thursday as solid U.S. data reinforced a theme of robust U.S. economic growth, while the euro fell after European Central Bank chief Mario Draghi alluded to sagging inflation and the need for further monetary policy assistance.The euro fell below $1.06 to its lows of the day as Draghi spoke at a news conference, while the dollar index (DXY), which tracks the greenback against the euro and five other major currencies, added to its gains.The ECB announced it would maintain it…
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Dollar Thursday pared gains after a boost on comments by Fed Chair Janet Yellen
Investing.com - The dollar Thursday pared gains after a boost on comments by Fed Chair Janet Yellen.
The dollar index was off 0.09% at 101.22 at 02:15 ET after a high of 101.40.
The euro up 0.09% at $1.0640, with the ECB expected later Thursday to stand pat on monetary policy.
The greenback was up 0.03% at 114.70 yen after a high of 114.89.
In a speech Wednesday Yellen said the strength of the U.S. economy warranted gradual rate hikes a "few times a year"
Failure to act in a timely manner, she s…
The dollar index was off 0.09% at 101.22 at 02:15 ET after a high of 101.40.
The euro up 0.09% at $1.0640, with the ECB expected later Thursday to stand pat on monetary policy.
The greenback was up 0.03% at 114.70 yen after a high of 114.89.
In a speech Wednesday Yellen said the strength of the U.S. economy warranted gradual rate hikes a "few times a year"
Failure to act in a timely manner, she s…
EUR/USD Threatens Further Weakness Towards 1.0909 Level
With a reversal of its previous week’s gains seen the past week, more decline is envisaged. Support lies at the 1.1000 level. Further down, support comes in at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will target the 1.0850 level. The weekly RSI is bearish and pointing lower, supporting this view.Conversely, on the upside, resistance comes in at the 1.1100 level, with a cut through here opening the door for more upside towards the 1.1150 level. Further up,…
EURo/dollar rose to 1.1100
The euro/dollar closed up on Wednesday. Trades were volatile due to US stats. The pair restored to 1.1087 and then again fell under pressure due to ISM data for the service sector. The ISM’s index showed a June rise from 52.9 to 56.5 (forecasted: 53.3).The euro bulls managed to restore their losses quickly as everyone was waiting for the release of the Fed minutes. The regulator is ready to raise rates, although members of the FOMC believe that more economic data is needed to take such a decisio…