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On Friday, the American currency headed for weekly losses, fluctuating at its lowest levels versus the common currency in almost two years after what financial markets perceived as a hawkish clue from ECB Governor Mario Draghi.
However, the Australian dollar skidded versus the US dollar after quite dovish remarks from a Reserve Bank of Australia official.
The dollar index, assessing the evergreen buck versus a basket of six counterparts, didn’t change, sticking to 94.322, which is not far from its overnight drop of 94.090, its deepest outcome since August 2016.
The common currency caught its breath and stabilized at $1.1626 having climbed to $1.1659 on Thursday. That’s the euro’s loftiest value since August 2015.
The greenback rallied 0.1% versus the Japanese yen hitting 112.06, having touched an overnight minimum of 111.48, which is its lowest outcome since June 27.
The common currency added 0.1% versus its Japanese rival to 130.32 yen.
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
What is important today?
USD/SGD rises as the indicators disappoint the market.
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…
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