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For the first time since early January, the EUR/USD fell below $1.05 on a combination of investors’ concerns.
The US Dollar slipped in Asian trade as FX traders await the FOMC minutes which will show the outlook of the Federal Reserve’s voting members and gauge the possible timing of the next rate increase.
The Pound Sterling edged higher against the common currency Euro but was under some pressure versus the US Dollar as market players await testimony by members of the Bank of England.
The Euro is once again under pressure as political uncertainties surrounding the looming French presidential election impact investors’ sentiment.
The Euro gained ground versus the US Dollar in the wake of a weekend that included a relatively fruitless effort to pin down a presidential candidate for France’s leftist unity party.
Global markets remained relatively subdued on Monday in advance of President’s Day, a U.S. bank holiday that will keep markets closed.
The US Dollar Index remains fixed and close to a 1-week trough despite unexpectedly upbeat economic data which failed to give US Treasury instruments a yield boost.
The US Dollar finally broke course and ended an 11-day win streak today, retreating versus the Japanese Yen and the common currency Euro.
U.S. markets closed broadly higher on Wednesday, with the S&P 500 marking its seventh consecutive winning session, encouraging global stock markets to cash in on the rally.
The US Dollar edged higher yet again, now on track for an 11th consecutive day of gains, even as investors focus on the upcoming release of inflation data to better gauge the Federal Reserve’s likely next move.
Despite the fact that Federal Reserve Chair Janet Yellen expressed uncertainty about U.S. President Donald Trump’s economic policy, she announced on Tuesday that “waiting too long to remove accommodation would be unwise,” which clearly signaled the Fed’s increased likelihood of raising interest rates in March.
The Pound Sterling edged away from the Euro, retreating from the highest price in a month, as FX traders were awaiting the latest economic data from the UK, specifically January’s inflation.
Federal Reserve announced on Monday that Daniel Tarullo, the central bank’s top financial regulator, has tendered his resignation and will be stepping down on April 5, 2017.
The Pound Sterling edged higher against the US Dollar and extended its gains versus the Euro for the 6th consecutive day.
The dollar hit a two-week high during Monday’s Asian session after the weekend meeting between U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe which paved the way for an open and perhaps friendly relationship between the nations.