The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Euro ascends to 2-1/2-year peak
On Monday, the common currency extended revenues to a 2-1/2-year maximum versus the greenback right after the ECB Governor held back from talking down the single currency and as financial markets were concerned over the impact of Tropical Storm Harvey on the American economy.
The common currency was a bit higher at $1.1924 having soared to $1.1966, which is its highest value since January 2015.
The common currency had already ascended approximately 1% on Friday after ECB Governor Mario Draghi delivered a speech at the Jackson Hole conference on subjects, including global trade, though he didn’t touch upon the common currency’s recent value.
The common currency had gained an initial boost versus the evergreen buck right after Fed Chair Janet Yellen didn’t make any references to American monetary policy.
The Swiss franc stuck to a one-month peak of 0.9539 franc per greenback hit earlier in the trading session.
The US CPI and core CPI are due at 15:30 MT time on May 12.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
Stocks, oil and GBP gain on risk-on sentiment
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
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