Various news from the United States made the euro weaker than the dollar, resulting in the third consecutive session of losses for the shared European currency today. At the same time, positive data from Germany allowed the euro to gain on the Japanese yen.
The dollar surged against the euro on the news that US President Barack Obama is going to nominate Janet Yellen as the next head of the Federal Reserve. The minutes of the last Fed policy meeting added to the greenback’s strength, showing that policy makers were very close to reducing the size of asset purchases. On top of that, there are speculations that US politicians are near compromise regarding the issue of raising the debt ceiling.
As for economic data from Europe, it was rather good for the euro. German industrial production jumped 1.4 percent in August following the 1.1 percent drop in July.
EUR/USD dipped from 1.3522 to 1.3496 as of 4:20 GMT today. EUR/JPY went up from 131.62 to 131.91. EUR/GBP was at 0.8474 following the decline from 0.8475 to 0.8464.
If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.
Be First to Comment