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On Wednesday, the common currency headed south to the lowest value for two months following downbeat euro zone economic data, thus backing the evergreen buck versus a currency basket.
The currency pair EUR/USD slipped by 0.5% hitting 1.1414, which is the weakest result since August 20.
The common currency also dived versus the Japanese yen. The currency pair EUR/JPY lost 0.51% trading at 128.33.
The common currency extended losses after data disclosing that in October euro zone private sector activity soared at the slowest tempo for more than two years because an export-led deceleration widened out to the service sector.
The given data actually highlighted worries over the economic influence of levies as well as trade conflicts.
Italy was still in focus a day after the EU took the shocking step of rejecting Italy’s 2019 draft budget, giving the country’s cabinet three weeks to have a revised budget plan resubmitted.
Estimating the greenback’s purchasing potential against a number of its crucial counterparts the USD index rallied by 0.37% being worth 96.07.
The evergreen buck was virtually intact versus the Japanese yen. The currency pair USD/JPY hit 112.46.
The Federal Reserve has lifted interest rates up to three times in 2018 because the American economy has kept strengthening. As for the fourth rate lift, it’s expected to occur in December.
Aside from that, the UK pound approached a three-week minimum. The currency pair GBP/USD slumped by 0.41% being worth 1.2929.
The UK pound was still under pressure because Brexit negotiations were still stalled with just over five months until the United Kingdom is scheduled to abandon the European bloc and UK Prime Minister Theresa May experiencing heavy political criticism over her Brexit strategy.
Besides this, the Canadian dollar stood still against its American rival. The currency pair USD/CAD showed 1.3096.
On Friday, the evergreen buck rallied versus its counterparts reacting to a rebound in American home sales, although profits were tamed by a steep soar in the Japanese yen as American government bond gains dived in the face of worries of the decelerating…
On Friday, the UK pound revived in Europe trade from Thursday’s buffeting when the EU admitted only a minimal extension of the deadline for Brexit…
Canada will release the level of core retail sales and CPI on March 22, at 14:30 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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