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EUR/USD touches 1.10 again
Yesterday the much weaker than forecast US PPI data forced the US dollar lower, especially versus the European currencies. So, that allowed the EUR/USD to brush aside the weaker ZEW and higher US NFIB index. The move higher extended all the way into the US close and the positive risk dynamic from the further gains in US stocks undermined the dollar even more. So, the EUR/USD later printed a trade at exactly 1.10 and subsequently closed the US session at 1.0993. It has not vaulted that 1.10 handle yet today though, but the price action remains elevated ahead of the European opening. Of course the US CPI report later today will play a big part in deciding if the Euro can make further progress, remembering that it stalled last Monday (August 5) at 1.1008. The range seen so far today has been covered by 1.0985 to 1.0998. It is just now at 1.0991
Market News
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