US dollar rebounds vs euro after recent slackening

Posted 10 January, 2019

The US dollar has reversed and posted some gains vs the euro on Thursday. Still, the greenback is said to remain weak since the US Federal Reserve can refrain from raising the interest rate during the next meeting.

The ICE index slightly improved after touching multi-month bottom on the release of US Fed meeting minutes.

The euro-to-US dollar was at some $1.1519 ($1.1543 earlier). The European currency reportedly exceeded the psychological level of $1.15, so some analysts believe the current slackening is likely to be short-lived.

At the same time, the US dollar managed to stabilize vs the Japanese yen at 108.17, unchanged d-o-d.

The market is said to expect new messages from the US Federal Reserve and its Chairman Jerome Powell today.

Following previous statements of the US Fed the market suspected that the regulator is taking a pigeon stance, and their opinion has been confirmed by the released minutes of the December meeting. According to the Federal Reserve, the interest rate should be raised at lest a few times more, though the revisions can be delayed.

Notably, the Federal Open Market Committee reportedly supported the break in the rate increase, as the minutes read. For reference, the regulator ramped up the rate to 2.25-2.50% last December, posting the fourth interest rate over 2018.

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11 January, 2019 12:24

← Bitwise makes another attempt at getting bitcoin ETF license

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Bitwise makes another attempt at getting bitcoin ETF license

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