Home / Economic Report / Daily Economic Reports / The Euro Falls After US Data Supported The Dollar’s Recovery

The Euro Falls After US Data Supported The Dollar’s Recovery

The euro fell on Monday after rising last week that followed a shift from the European Central Bank to tighten monetary policy, as traders turned to the dollar on bets that the jump in jobs created by the US economy in January could lead to faster rate increases than US Federal Reserve.

The single European currency fell 0.2 percent to $1.1425, after hitting its highest level since mid-January on Friday.

The dollar was supported by higher US Treasury yields after the much better-than-expected jobs data on Friday.

The dollar index was little changed in the latest trading on Monday, recording 95.444, but it is far from its low level at 95.136 that it touched last week before the release of labor market figures.

The yen advanced slightly to 115.14 per dollar, while the pound rose 0.1 percent to $1.3537, both in the middle of their recent ranges.

Bitcoin rose 0.45 percent to $41,602, after jumping 11 percent late Friday.

Check Also

Walgreens earnings miss market expectations

Walgreens reported fiscal earnings that fell short of expectations and slashed its full-year adjusted profit …