EUR/USD fell 0.1% to 1.2073, with the single currency likely to be under pressure this week with the ECB meeting, EU summit and Italy’s political crisis in focus.
The dollar edged higher today, clinging to small profits as traders turn to the safe haven as doubts about the global economic recovery rise while corona virus cases surge.
The US dollar benefited from safe-haven flows in response to poor US data with the last blow coming from the 1.4% plunge in December's Retail Sales statistics. They were not worse than estimated but also came on top of downward revisions for November.
A slow rollout of vaccines across the Europe and a confidence vote in Italian parliament have combined to take the steam out of the EUR/USD rally. The trade-weighted EUR is weaker but remarks such as the ECB ‘monitoring exchange rates carefully’ will add to the consolidative mood.
05 Mar 2021 06:06 PM
Key factors to keep in mind before the US markets open
05 Mar 2021 05:08 PM
India's foreign exchange reserves rose to $584.55 billion as of Feb 26, compared with $583.87 billion a week earlier, the Reserve Bank of India.
05 Mar 2021 04:36 PM
Have a look at how Indian rupee ended the day
05 Mar 2021 03:51 PM
Indian equities fell for a second straight session today and snapped their three-day gaining streak as investors remained spooked by a sharp rise in US yields. Sensex managed to hold 50,000 and closed below 441 points, but Nifty gave up 15,000.
05 Mar 2021 03:00 PM
Pound fell and traded around 1.3830 as Dollar extended gains following Powell’s dovish comments leading to an upward rally in US yields.
05 Mar 2021 02:56 PM
Find out how European markets are reacting today