Wednesday, 21 August 2019
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Euro weakens as dollar holds ground despite Fed rate cut bets
Tuesday, 16 July 2019 15:11 WIB | CURRENCIES | EuroEUR/USD

The euro fell on Tuesday as investors waited for a sentiment reading of Germany's economy, although the prospect of more central bank easing starting with the Federal Reserve later this month kept currency moves limited.

The single currency stood at $1.1251 in early London trading, down slightly on the day.

Foreign exchange markets have been notably quiet in recent weeks, with investors focused on economic data releases to decide when and by how much central banks will seek to stimulate their economies.

Volatility in currency markets has plummeted in recent weeks, according to the Deutsche Bank Currency Volatility Index.

Markets expect the Federal Reserve to cut rates later in July, but the dollar has held its own. The dollar index was up 0.1% at 97.035, a fair way from its June lows of 95.843.

Source : Reuters

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