On
Wednesday session the single currency was trading higher against the US dollar
without being affected by the positive US data on labor market and factories. Federal
Reserve's meeting minutes additionally stirred the market spirit.
According to Fed’s minutes, the members of the board left the door open for the
next rate hike. It seems that some of the members need more positive data and
others support the opinion that the time has come. However, we must consider
this meeting as a warning sign for upcoming rate increase, as inflation data is
getting closer to Fed’s target.
As a consequence, the EUR/USD pair was trading elevated with around 0.45%, to
$1.1366 and hit a new eight-week high.
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