Euro soars to six-week high as dollar flags

Economies.com
2017-03-21 16:05PM UTC

Euro rose today to a six-week high as the dollar tumbled against a basket of currencies, while tensions eased regarding the French presidential elections, opening the door for more gains to the common currency. 

 

EUR/USD last traded at 1.0813, up from the opening of 1.0739, with a session-high at 1.0822, and a low at 1.0738. 

 

Euro's rally comes after the dollar tumbled against a basket of currencies to a six-week trough as speculations about an accelerated timeline for rate hikes faded following dovish statements from Fed officials. 

 

On the other hand, the G20 meetings saw the dropping of the pledge to keep global trade open and free in the final statement under strong pressure from U.S. president Trump's administration, in turn hurting the dollar as investors believe Trump wants to weaken it. 

 

Recent polls on France's elections showed an easy win for centrist Emannuel Macron over Far Right candidate Marie Le Pen, which pledged to take France out of the European Union, in turn easing the pressure on the euro. 

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

USD CHF Analysis

Forex

The USDCHF price faces temporary negative pressure – Forecast today - 29-03-2024
2024-03-29 01:48AM UTC
USDCHF Price Analysis Expected Scenario: Bullish Trend The USDCHF pair rebounded bearishly ...
NZD USD Analysis

Forex

The NZDUSD price keeps its negative stability – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
NZDUSD Price Analysis Expected Scenario: Bearish Trend The NZDUSD price remains below the ...
AUD USD Analysis

Forex

The AUDUSD price awaits confirmed break – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
AUDUSD Price Analysis Expected Scenario: Bearish Momentum The AUDUSD price failed to sustain ...