Forex

16/10/2017          10:30 am   

  • The euro was lower against the dollar on Monday as concerns over political uncertainty in the euro area weighed while the dollar pushed higher despite Friday’s soft U.S. inflation data.
  • The Australian dollar edged lower against its U.S. counterpart on Monday, while the New Zealand dollar held steady as the greenback recovered from some of the losses posted after Friday's disappointing U.S. inflation data.
  • The People's Bank of China set the yuan parity rate against the dollar at 6.5839 on Monday, compared to the previous close of 6.5805, a steady fix ahead of the Party Congress starting later this week.
  • The dollar fluctuated against a basket of the other major currencies on Friday after mixed consumer inflation data clouded the outlook for another rate increase by the Federal Reserve in the coming months.
  • The euro was a touch lower, with EUR/USD dipping to 1.1822 in late trade after European Central Bank President Mario Draghi said the euro zone still requires substantial monetary stimulus as inflation remains muted.
  • Sterling gained ground amid hopes that Britain could be offered a two-year Brexit transition deal. GBP/USD advanced 0.2% to 1.3287 late Friday and ended the week up 1.7% after suffering its worst week in more than a year the previous week.
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