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
Greenback soars as financial markets digest weekend events
On Monday, the evergreen buck tacked on versus other key currencies because financial markets were reviving from the weekend's elections in New Zealand and Germany. At the same time worries over tensions between North Korea and America seemed to relieve.
The currency pair EUR/USD slumped 0.24% being worth 1.1927. It’s because on Sunday Germany's federal election demonstrated surging support for a far-right party.
On Sunday, chancellor Angela Merkel grasped a fourth term in office. However, she requires building a coalition to create a government as Conservatives were deprived of support in the face of a sudden ascend by the anti-immigration Alternative for Germany or AfD for short.
The currency pair GBP/USD gained 0.13% hitting 1.3550, reviving from moderate losses reported on Friday after British Prime Minister Theresa May provided just few fresh indications on how Brexit is going to proceed.
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…