Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Euro is currently seen as picking up and returns to levels above 0.9800. Speculation about a shorter Fed hike in December served the US dollar a sudden blow.
The Euro departed the previous days’ weakness on Friday during the US session. The pair has regained lost ground after bouncing at 0.9705 lows earlier today and is struggling to consolidate above 0.9845 at the time of writing.
Friday’s article by the Wall Street Journal pointed out that Fed policymakers could open a debate on how to signal a smaller rate hike in December. The US dollar lost previous momentum and sharply reversed from session highs.
The US Dollar index, which measures the value of the US dollar against a basket of the world’s most traded currencies, has plummeted more than 1%, from three-week highs near 114.00, to the mid-range of 112.00.
