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Euro Rallies to New 2-Month Highs as Dollar Falls to 2-Month Lows

The euro today rallied to new 2-month highs as the US dollar extended its losses by falling to fresh 2-month lows amid a risk-on market environment. The EUR/USD currency pair rallied to its daily highs in the American session amid multiple speeches from Fed speakers.

US Dollar Climbs Against Most Major Peers on Positive Interest Rates Outlook

The US dollar rose against a basket of its major peers on Tuesday as traders embraced more risk amid improved near future outlook for the US monetary policy. A number of speeches from officials of the Federal Reserve gave out strong signals for higher interest rates when the US central bank holds its next meeting on June 13.

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