Euro widens gains to two-month high against dollar
Euro rose in European trade against dollar for third straight session, marking two-month highs as the dollar weakens while long-term treasury yields decline as well, while prospects are changing for the ECB's monetary policy.
EUR/USD rose 0.3% to 1.1478, the highest since November 11, after closing up 0.7% yesterday, the second profit in a row, and the largest since November 26.
The dollar index fell 0.3% on Thursday, the third loss in a row, marking the third loss in a row, and hitting two-month lows at 94.71.
US 10-year treasury yields continue to tumble even as inflation spikes in the US to 1982 highs.
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%
|
|
