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
Evergreen buck nurses losses after recent selloff on Trump policy blow
On Wednesday, the evergreen buck was nursing losses near-multi-month minimums versus a currency basket in the wake of an abrupt selloff generated by concerns that Donald Trump is struggling to implement his policy agenda.
The US dollar index, used to tack the greenback’s actual strength versus a basket of key major currencies, soared 0.14% being worth 94.56.
On Tuesday, the index hit a minimum of 94.27, which is the lowest outcome since August 26, 2016. Moreover, it dropped more than 7% for 2017 to date.
The greenback sold off after Republican lawmakers dared to pull the plug on the fresh version of a contentious bill to substitute Obamacare, thus delivering a key policy blow to the Trump administration.
The inability to deliver on healthcare reform showed that Trump’s other legislative attempts, including overhauling the tax code as well as implementing fiscal stimulus could be troublesome.
The greenback stood still versus the Japanese yen, with USD/JPY sticking to 112.05, soaring from a Wednesday minimum of 111.67.
The common currency turned to be a dip lower, with EUR/USD slumping 0.19% being worth 1.1531, which is not far from Wednesday’s 14-month peak of 1.1582. It’s because traders were still cautious ahead of the approaching ECB meeting.
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…