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

Economies.com
2021-09-27 08:59AM UTC

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.

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