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.%
1.0430
-0.0115
1.0863%
1.2233
-0.0116
0.9429%
21.131
-0.994
4.491%
110.161
3.004
2.803%
109.97
-1.64
1.47%
1799.655
-69.205
3.703%
 
 
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