The US dollar continued its decline, the dollar index falling to a fresh eight-month low. The dollar is being led lower by a surging euro. The euro is actually at a 12-month high against the US dollar.
Jun 30, 2017
Jun 29, 2017
Draghi Sends Euro Higher, US Dollar Lower
The US Dollar was down sharply and broadly led lower by a rally in the euro currency. The catalyst for the euro rise were some statements by Mario Draghi early in the morning basically where he said that he thought the downward pressures on inflation were transitory so a somewhat hawkish stance on inflation and the markets took that to mean that QE will come to an end sooner rather than later.
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