Euro hovers near two-week low as dollar climbs

Euro slid back for the second day in a row, hovering near a two-week high, following dollar’s rebound against rival currencies ahead of U.S. inflation data later this week.

EUR/USD last traded at 1.1735, down from the opening of 1.1756, with a session-high at 1.1758 and a low at 1.1722.

Euro was dragged down by dollar as it held its gains made after positive jobs data last week, which raised expectations of another Federal Reserve rate hike this year. 

A lack of economic data from the euro zone today pushed the euro lower, following North Korea’s threat to attack the US Pacific island of Guam, which led investors to seek safe haven investments like silver, Yen and gold; away from euro and other riskier assets.