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%
|
|
