Euro on track for largest weekly profit since May 2021

2022-01-14 09:51:57 GMT (Economies.com)
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%
 
 
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