The US Dollar (USD) is under strong selling pressure on Monday, particularly against high-yielding rivals.
EUR/USD Current price: 1.0524 The US Dollar falls despite risk aversion dominating financial markets. The German IFO survey showed an upbeat Business Climate in January. EUR/USD bullish momentum set to continue, traders aim for 1.0600. The US Dollar is under strong selling pressure on Monday, particularly against high-yielding rivals. The EUR/USD pair trades at fresh multi-week highs in the 1.0520 region, helped by encouraging German data.
She did not refer to monetary policy but expressed concerns about central banks’independence, saying it is being questioned in “several” parts of the world.” The ECB and the Federal Reserve will announce their decisions on monetary policy this week, with the first seen trimming rates yet the Fed holding its fire. Data-wise, the American session will bring the December Chicago Fed National Activity Index and New Home Sales for the same month.
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