The euro today rallied higher against the US dollar as investors embraced the risk-on mood in the market after it emerged that North Korea was considering possible denuclearization. The news emerged from talks between North Korea and its Southern counterpart, and its impact was significant enough to outweigh the effect of the Italian general election on the single currency.
The euro fell against the US dollar intraday but has managed to recover by now. Against other majors the shared 19-nation currency was mixed, rising against the safe currencies, like the Japanese yen, but falling versus the Great Britain pound. The major driver for the currency were European election on the weekend.
The euro today rallied higher against the US dollar boosted by positive investor sentiment towards the single currency. The lack of any significant data from the Eurozone economic docket means that the single currency’s rally was not triggered by any fundamental drivers.
The Japanese yen rose against the US dollar today but fell against other major rivals. The drop followed last week’s substantial gains.
The Japanese yen was stable today despite the announcement of a snap election in October.
The euro today declined against the US dollar on the back of positive US macro data including the durable goods orders and the weak MBA mortgage applications data. The euro was weighed down by the political uncertainties in Germany even as Angela Merkel is expected to form a three-way coalition government.
The New Zealand dollar fell for the second consecutive day today, driven down by the outcome of the weekend general election as well as today’s macroeconomic data that was extremely poor.
The euro fell today, retreating for the second day in a row, as the inconclusive outcome of the German federal election over the weekend led to political uncertainty in Europe.
The New Zealand dollar rose today, reaching the highest level since August 7 and gaining for the fourth consecutive day on the Japanese yen. The currency got support from opinion polls regarding the upcoming general election in New Zealand and the current account report.
The euro was relatively strong against its major rivals today. The inflation data released during the current trading session, being rather positive, did not give the currency a reason to reverse its trend.
