Euro slips before the weekend as dollar rises

Economies.com
2016-07-22 14:29PM UTC

Euro fell today after a small rise in the last two days, as the dollar's strength forced the common currency back downwards. 

 

EUR/USD last traded at 1.1013, compared to the opening of 1.1032, with a session-high at 1.1042, and a low at 1.1010. 

 

Euro's decline comes amid constant tensions in the European markets over Britain's exit from the European Union and its impact on growth rates in the Eurozone. 

 

On the other hand, the dollar rose against a basket of six major rivals, stemming euro's attempted recovery and sending it back downwards. 

 

The dollar index, gauging the U.S. currency's performance against a basket of six major rivals, last traded at 97.10, compared to thee opening of 96.83, with an intraday high at 97.16, and a one-week trough at 96.81, as investors take refuge in U.S. treasury bonds, while the dollar draws support from recent upbeat data. 

 

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