Last week the EURUSD broke the 1.1170 horizontal level and jumped higher on Monday, signifying a formed bearish trap.
The Euro seems to be shaking off it’s bullish momentum today, and transferring it on the Dollar instead.
Investors have threatened to cut their positions on European equities, as the Euro has fallen to an eight-day low against the Pound. This all is fueled by the increasing political crisis in Germany.
Drop in bond yields signals that the risk appetite is capped, while the Euro and Pound drop.
Long holidays fuel the appeal of safe heavens, as greenback drops.
The British currency erased declines quickly as the governor squashed the hopes of those expecting a further stimulus. At the same time, the Oil prices tumbled and AUD rose immensely.
Rising rate hike odds push Dollar to new heights, as pound sinks ahead of Carney speech
Stanley Fischer claimed that the state of US economy should be somewhere near its targets – full employment and 2% inflation., which made the dollar rebound.
EUR/USD declines ahead of the ECB release.