Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
Aussie heads south
On Wednesday, the Australian dollar dipped in Asia because consumer prices data came in a tad weaker than expected. Additionally, the market saw an ongoing steady policy of rates at a record minimum 1.5% by the Reserve Bank of Australia.
The US dollar index, measuring the greenback’s value against six main currencies, slid 0.06%, hitting 98.66.
The currency pair AUD/USD reached 0.7513, declining 0.31%. As for USD/JPY, this currency pair hit 111.24, soaring 0.14%.
Australia posted CPI figures for the first quarter of a 0.5% ascend, compared with an 0.6% revenue seen quarter-on-quarter as well as 2.1% surge year-on-year, which is below the 2.2% soar expected.
Overnight, the evergreen buck traded lower against a basket of crucial currencies, following the publication of mixed American economic data, while a soar in the common currency weighed on the major US currency.
The common currency hit fresh five-month peaks versus the greenback as market participants piled into the single currency for a second-straight day, right after centrist nominee Emmanuel Macron managed to win the first round of the French presidential election.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…