Euro on track for weekly profit despite today's wavering

Economies.com
2017-01-20 16:05PM UTC

Euro wavered today but headed for the fifth weekly profit in a row nonetheless, amid a lack of data today, while markets await Donald Trump's inauguration speech after getting sworn in.
 
EUR/USD last traded at 1.0675, compared to the opening of 1.0661, with a session-high at 1.0695, and a low at 1.0626.
 
Euro managed to rise this week to a six-week high against the dollar after the greenback fell following Trump's statement considering the dollar "overpriced", while Fed Chair Yellen talked about a gradual but slow policy tightening.
 
The European Central Bank kept interest rates unchanged yesterday, while asserting the bank's readiness to intervene in the markets if needed, and reaffirming its expectations of the same record low rates for a longer period of time.
 
Euro is generally moving in sideways today as markets await Trump's inauguration speech, causing thin trading in the markets, specially with a lack of data from the U.S. and the Eurozone.

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