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Euro Crashes to 7-Week Lows As the US Dollar Surges Higher

The euro today fell against the US dollar for the third consecutive session as investors trimmed their expectations of a massive rate cut by the Fed boosting the greenback. The EUR/USD currency pair was also affected by market expectations of the announcement of further monetary easing policies by the ECB later this week.

Japanese Yen Drops on Risk Appetite, Tries to Rebound. Domestic Data Mixed

The Japanese yen weakened today due to risk appetite caused by news about a trade truce between the United States and China. The currency has trimmed its losses later, though, erasing them against some rivals outright. Macroeconomic data released in Japan over the trading session was mixed.

Pound Strongest on Friday, Remains Among Weakest for the Week

The Great Britain pound was the strongest major currency today, rising against all of its most-traded rivals. While there were plenty of macroeconomic reports released in the United Kingdom during the trading session, the most likely reason for the rally was profit-taking by bears as the sterling was still one of the weakest currency during this week.

Euro Trades Sideways as US Fed Dashes Rate Cut Expectations

The euro today traded mostly sideways with a bearish tilt as markets digested the less dovish message issued by Jerome Powell the US Fed Chairman during his speech yesterday. The EUR/USD currency pair traded in a tight range amid a lack of any major macro releases from the European docket.

Pound Rallies on USD Weakness, Falls on Boris Johnson’s Remarks

The British pound today rallied to its daily highs early in the session driven largely by US dollar weakness as investors expect the Fed to announce its rate cut plans. However, the GBP/USD currency pair quickly dropped following comments by Boris Johnson regarding the October 31st Brexit deadline.

Euro Weakens on Manufacturing Contraction, Falling Consumer Confidence

The euro is tumbling against its major currency rivals at the end of the trading week, driven by disappointing manufacturing activity numbers for June and an underconfident consumer. The euro has been having a tough week, especially after President Donald Trump targeted the central bank for sending the euro lower by hinting at additional monetary stimulus to support the eurozone economy.

Yen Thrives amid Risk Aversion, Ignores Domestic Data

There were plenty of macroeconomic reports released in Japan today. They were mixed, failing to provide a clear picture of Japan’s economic well-being. But as it often happens, the yen largely ignored domestic data. Instead, the currency surged against other most-traded currencies due to risk aversion on the Forex market.

Euro Trades Flat As EU Leaders Meet to Discuss Top Jobs, Later Falls

The euro today dropped briefly against the US dollar in the Asian session before recovering and trading flat during the European session as the new EU leaders met to discuss top positions in the organization. The EUR/USD currency pair later fell back to its daily lows in the American session following the release of upbeat US consumer confidence data at the time.

Canadian Dollar Slides on Mixed Data

The Canadian dollar is trading lower against a basket of currencies on Thursday as an influx of mixed data is driving the loonie’s short-term performance towards the end of the trading week. The slumping economy is not giving consumers a ton of confidence, suggesting that they may not be as adamant to consume.

US Dollar Slides Amid Trump-Fed Battle Over Interest Rates

The US dollar is sliding midweek as President Donald Trump continues to pressure the Federal Reserve cut interest rates because the economy would ascend “like a rocket.” An influx of mixed data has also been coming out, showcasing some bright spots and some dim aspects that could be signs of a somewhat cooling economy.

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