Euro on track for largest weekly profit since May 2021
Euro rose in European trade against dollar for fourth straight session, marking two-month highs and on track for the largest weekly profit since May 2021, while investors await ECB President Christine Lagarde remarks on the future of European policies.
EUR/USD rose 0.25% to 1.1482, the highest since November 11, with an intraday low at 1.1451, after rising 0.1% yesterday, the third profit in a row.
Euro is up 1.1% this week against dollar, on track for the largest weekly profit since May 2021.
The dollar index fell 0.2% on Friday, the fourth loss in a row, to a two-month low at 94.62, against a basket of major rivals.
US 10-year treasury yields continue to decline even as US inflation hits highest levels since 1982.
Fed members are repeatedly bolstering the case for multiple rate hikes in 2022, up to 4 hikes to control inflation but the dollar is nonetheless weakening.
In Europe, some analysts are expecting a rate hike in the last quarter of the year as inflation hit fresh record highs in December.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1346
|
-0.0058
|
0.5127%
|
|
|
|
|
1.3554
|
-0.0103
|
0.7569%
|
|
|
|
Tadawul
|
12238.77
|
-35.50
|
0.29%
|
|
|
|
|
24.347
|
1.336
|
5.803%
|
|
|
|
|
84.900
|
1.031
|
1.229%
|
|
|
|
|
87.69
|
-0.69
|
0.78%
|
|
|
|
|
1834.610
|
14.150
|
0.777%
|
|
