The
euro fell sharply against the US dollar on Tuesday for the fourth consecutive
session, ahead of Mario Draghi and Janet Yellen’s statements later this week. Everyone
is looking forward to the ECB press conference about the possible change in the
monetary policy.
EUR/USD fluctuated between levels between 1.1114 and 1.1207 before closing the
day at 1.1119.
The ECB will meet on Wednesday and according to Peter Praet, an economist at
the ECB, the deteriorated state of the world economy may push the central bank
to implement additional measures to stimulate economic activity in the
Eurozone.
The consumer confidence index in the euro area declined from 0.2 to 7.1 in
September, well below forecasts for a result of 7.0. Consumer confidence fell
this month, amid widespread concerns over the global economy and the refugee
crisis in Europe.
The British pound fell against the dollar, finishing the trading session at the
level of 1.5363, having traded between 1.5527 and 1.5339.
USD/JPY ended at 120.14, while the Australian and New Zealand dollar closed the
day respectively at0.7089 and 0.6292.
The US Dollar Index rose more than 0.6 percent to 96.58, which is its highest
level in two weeks.
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