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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.

EUR/USD Trades Sideways as US Dollar Rally Wanes, Later Declines

The EUR/USD currency pair was in a consolidative phase during the Asian session even as US Treasury yields hit new highs overnight and the greenback rally lost some momentum. The release of the German wholesale price index in the early European session was one of the triggers behind the currency pair’s decline as the euro weakened against the US dollar.

Euro Drops Against US Dollar Despite German Coalition Deal

The euro today dropped significantly against the US dollar despite Angela Merkel‘s CDU party reaching a coalition deal with the social democrats in the early European session. The euro’s initial decline was largely triggered by weak German industrial production data released earlier today.

EUR/USD Trades Sideways on Eurozone and US Data

The EUR/USD currency pair was on a downtrend for most of the European session after the release of Eurozone CPI data for October. The pair later rebounded in the early American session after the release of US macro data.

US Dollar Weakens Against Euro as Inflation Data Misses Estimates

The US dollar declined against the euro on Friday to touch its weakest level in 3 days, as fresh data for inflation rate in the United States disappointed investors. Weak economic releases in recent weeks lowered expectations that the Federal Reserve might raise interest rates before the end of the year, which weighed on the greenback.

US Dollar Rises Against Euro on Hawkish Comments from Federal Reserve Officials

The US dollar climbed to the highest level since May 30 against the euro on Tuesday following a stream of hawkish comments from US Federal Reserve officials yesterday and today. Two members of the Federal Open Market Committee offered an improved outlook for tighter monetary policy in the United States earlier today, while a third member is expected to speak later in the day.

GBP/USD Tumbles to New Lows After Dovish Comments from Mark Carney

The GBP/USD currency pair today tumbled to new lows last witnessed in April due to dovish comments from Bank of England Governor, Mark Carney. The currency pair hit the new lows during the North American session after hawkish comments from FOMC members such as Eric Rosengren.

USD/CAD Rallies Higher on Weak Canadian Building Permits Data

The USD/CAD currency pair today rallied higher after the release of Canada’s building permits data for the month of March released by Statistics Canada, which did not meet expectations. The Canadian dollar was largely weaker against the US dollar even as crude oil prices faced uncertainty regarding the renewal of oil supply cuts by OPEC countries.

US Dollar Climbs Against Main Peers on Solid Consumer Confidence Data

The US dollar climbed against a basket of its major peers on Tuesday, as focus shifted from the withdrawal of the Republican healthcare bill to strong economic data. An index of consumer confidence surged in March, which added to the effect of statements from Federal Reserve officials on Monday.

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