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On Wednesday, the evergreen buck sank to fresh three-year minimums versus other key currencies because the common currency kept broadly strengthening, while the end of the American government shutdown didn’t manage to support the US currency.
In 2018 the common currency has been strongly backed by soaring optimism the European Central Bank is going to indicate a quicker exit than anticipated from its stimulus program.
The currency pair EUR/USD rallied 0.13% being worth 1.2314, which is off a three-year maximum of 1.2335 reached overnight.
The British pound generally gained, with GBP/USD soaring 0.19% hitting 1.4032.
The Japanese yen and the Swiss franc rallied too, with USD/JPY losing 0.34% hitting 109.97 and with USD/CHF heading south 0.32% being worth 0.9545.
The Japanese yen kept getting support from the Bank of Japan's decision on Tuesday not to change its monetary policy.
Additionally, USD/CAD dipped 0.12% showing an outcome of 1.2405.
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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