This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Dollar Looks for Respite
The US index rose slightly higher yesterday, just under 0.1%, as it achieved its third consecutive daily gain.
Persistent Brexit uncertainty, added with the upcoming ECB meeting, saw investors shift sentiment somewhat towards the dollar.
However, the greenback remains under pressure with the tussling of another round of stimulus hopes, which is becoming more political by the day.
House Speaker Nancy Pelosi called for a review of the Trump administration’s relief package, as it would cut unemployment insurance by $140 billion.
Euro Flirts with 1.21
The euro closed indecisively on Tuesday as it bounced off the 1.21 handle.
Investors are currently eyeing the upcoming ECB interest rate decision and meeting, as economists predict no changes will be made to the base rate.
GDP data across the eurozone showed that the European economy rose by 12.5% in Q3 after crashing by 11.8% in Q2. However, on an annualized basis, the economy weakened by 4.3%.
Boris Goes to Brussels...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.