US dollar loses grounds vs euro

Posted 11 May, 2018

On Friday, the US dollar keeps losing grounds against the euro. The currency has already plunged on weak inflation data lately.

According to US Labor Ministry, core inflation in the country developed at a slower pace than expected. With steadily slow inflation, it seems that the regulator will not need to speed up the process of monetary normalization, as reported MarketWatch.

The greenback is reportedly depressed by the fact that the market is less optimistic about interest rate increase by US Federal Reserve.

One of the officials stated that there is no need for a further increase of the interest rate as the monetary policy shows neutral state now, with inflation expectations close to the targets, as news reports read.

In the second half of Friday, the euro improved against the US dollar to some 1.1962. For reference, the previous session was closed at 1.1915.

Besides, the greenback somewhat weakened in the pair with Japanese yen – 109.25. At the same time, euro to yen rose to 130.60 (130.35 earlier).

Previous story

14 May, 2018 10:59

← US dollar down following lower state-bond yield

US dollar has posted weakening vs the majors this week. The negative dynamics are related to falling state-bond yield in the USA. Besides, markets are also expecting the release of retail sales data in the USA and Japan's GDP figures to be made in the course of the week. These reports can be the new locomotives for the trading.

US dollar down following lower state-bond yield

Next story

11 May, 2018 15:13

Nvidia Corporation unveils Q1 FY 2019 revenue in crypto market →

Nvidia Corporation, one of the leading graphics processing unit producers, has reported revenue from chip sales for crypto mining. In the Q1 FY 2019 the company generated $289 million from sales to miners, though it expects lower results in Q2, Bloomberg reported. Nvidia CEO Jensen Huang stated that demand for GPUs in the crypto mining sector had exceeded all expectations.

Nvidia Corporation unveils Q1 FY 2019 revenue in crypto market
Write a comment
Prove you’re not a bot + 14 = 26