The Sterling pound today rallied to new multi-month highs against the US dollar following the release of the upbeat UK inflation data earlier today. The GBP/USD currency pair today rallied to new 8-month highs against the much weaker greenback on the news.
The euro today rallied to new 2-year highs against the US dollar mainly driven by the latter’s overall weakness as tracked by the US Dollar Index. The EUR/USD currency pair today hit a high of 1.1966, which was last seen in March 2018 driven by the bullish investor sentiment.
The euro today fell against the US dollar after hitting highs last seen in September 2018 yesterday as the greenback sold off. The EUR/USD currency pair was stuck trading in a sideways range slightly lower from its opening price driven by the non-volatile market environment.
