Euro sharpens decline to three-month low

2021-03-05 10:05:31 GMT (Economies.com)
Euro sharpens decline to three-month low

Euro fell in European trade against dollar for the third straight session, marking three-month lows and heading for the third weekly decline in a row as US treasury yields rally. 

 

EUR/USD fell 0.3% to 1.1935, the lowest since December, after closing yesterday down 0.8%. 

 

The euro is down 1.1% so far this week against the greenback, on track for the third weekly decline in a row. 

 

The dollar index rose 0.3% on Friday, the third profit in a row, marking a three-month peak at 91.90. 

 

Investors are buying up the greenback as a safe haven after a new surge in US treasury yields. 

 

10-year yields rose to 13-months highs at 1.583 amid expectations of the yields piercing 1.6% soon. 

 

The gains came even as Fed Chair Jerome Powell pointed to the recent bond selling pressures as noticeable, but they weren't disorganized, as he warned from inflation pressures in the US in the next period, however, Powell still doesn't expect rate hikes soon until economic recovery.  

 

 
 
 
  Symbol Last Change Chg.%
1.2059
0.0033
0.2781%
1.3873
-0.0080
0.5716%
Tadawul
10127.90
18.31
0.18%
26.085
0.293
1.138%
61.660
-1.518
2.403%
65.80
0.40
0.61%
1784.495
13.045
0.736%
 
 
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