Euro at five-week lows ahead of Christine Lagarde's testimony

2021-09-27 11:04:32 GMT (Economies.com)
Euro at five-week lows ahead of Christine Lagarde's testimony

Euro fell in European trade against dollar for second straight session on track to hit five-week lows, as investors buy up the dollar as an alternative investment ahead of ECB President Christine Lagarde's important testimony today.

 

EUR/USD fell 0.35% to 1.1685, with an intraday high at 1.1727, after closing down 0.15% on Friday, resuming losses after a short hiatus yesterday near five-week lows a 1.1683.

 

Euro fell 0.1% last week against dollar, the third weekly loss in a row.

 

The dollar index rose 0.2% on Monday on track for the second profit in a row against a basket of major rivals, while long term US treasury yields spike. 

 

10-year US treasury yields rose 1.8% today for the third straight session, marking 13-week highs at 1.48% on prospects of US policy tightening soon.

 

ECB President Christine Lagarde is due to testify before the Committee on Economic and Monetary Affairs, via satellite.

 
 
 
  Symbol Last Change Chg.%
1.1623
0.0012
0.1012%
1.3771
0.0032
0.2318%
Tadawul
11891.39
45.46
0.38%
24.410
1.097
4.705%
84.551
1.205
1.446%
86.10
0.56
0.65%
1800.645
30.905
1.746%
 
 
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