Tuesday, 24 September 2019
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Euro Rallies on Nowotny Comments and Trade War Relief
Tuesday, 10 April 2018 19:26 WIB | CURRENCIES | Euro

The euro rallied past its 55-day moving average on commentsfrom European Central Bank official Ewald Nowotny that it's time to start tightening policy. The common currency was already stronger against the greenback after China President Xi Jinping struck a conciliatory tone on tradeduring a major address.

The Bloomberg Dollar Spot Index was lower by 0.2% after extending its sell off to 0.3% following Nowotny™s comments. The USD fell against most of its G-10 peers, rising only vs the NOK and the JPY.

EUR/USD higher by 0.3% at ~1.2360 vs a daily high of 1.2378. The euro was trading at around 1.2330 when the Nowotny comments hit the tape.

GBP/USD 0.3% higher at ~1.4175, near the session high of 1.4188. Sterling has rallied ~1.5% from its April 5 low against the greenback.

USD/JPY up 0.3% at ~107.04. The yen has traded in a 106.62 to 107.24 range Tuesday against the greenback.

The yen is down against all of its G-10 peers.

EUR/JPY higher by 0.6% and touched its highest level since Feb. 21.

Source: Bloomberg

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