Euro trims gains after setting five-week high
2017-03-20 16:22:58 GMT (Economies.com)
Euro trims gains after setting five-week high

Euro trimmed its gains today after hitting a five-week high, as the dollar stops falling against a basket of currencies while upward momentum carries on for the common currency. 

 

EUR/USD last traded at 1.0753, compared to the opening of 1.0746, with a session-high at 1.0780, and a low at 1.0745. 

 

Euro's rise comes as the dollar fell earlier against an array of rivals to a five-week trough after the Federal Reserve reaffirmed its gradual approach to tightening policy this year, buoying main rivals against the dollar. 

 

The G20 meetings on the weekend dropped the free and open global trade pledge from the final statement under pressure from U.S. president Trump's administration, hurting the greenback amid speculation Trump wants to weaken the dollar. 

 

On the other hand, earlier euro zone data showcased the success of the European Central Bank's efforts to keep inflation within a safe range while boosting growth through its stimulus program, underpinning the euro. 

 
 
 
  Symbol Last Change Chg.%
1.0798
0.0014
0.1340%
1.2474
-0.0047
0.3730%
17.748
0.163
0.927%
48.125
0.445
0.933%
50.97
0.41
0.81%
1245.330
0.060
0.005%
 
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