Euro maintains gains near four-month highs against dollar

2022-11-25 08:44:49 GMT (Economies.com)
Euro maintains gains near four-month highs against dollar

Euro rose in European trade against dollar for the fourth straight session, almost hitting four-month highs amid fading concerns about the policy gap between Europe and the US. 

 

The greenback is trading near three-month lows under pressure from Fed's minutes, which bolstered the case for a 0.5% rate hike in December.

 

EUR/USD rose 0.2% to 1.0428, after closing up 0.15% yesterday, the third profit in a row as risk appetite improves in the market. 

 

Euro is up over 1% so far this week against dollar on track for the second weekly profit in three weeks. 

 

Euro hit four-month highs at 1.0481 earlier this month before entering a wave of losses on active profit-taking. 

 

Current gains come amid fading concerns about the policy gap between the US and Europe, with the ECB expected to raise rates by 75 basis points in December. 

 

The Dollar

 

The dollar index last traded near three-month lows at 105.34 against a basket of major rivals. 

 

Latest Federal Reserve minutes showed US policymakers are content about their ability to move forward and raise interest rates in a slower place. 

 
 
 
  Symbol Last Change Chg.%
1.0511
-0.0079
0.7499%
1.2212
-0.0094
0.7620%
22.427
-0.730
3.152%
75.731
-5.744
7.050%
81.47
-1.01
1.22%
1779.070
-16.490
0.918%
 
 
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