Euro dips below $1.10 after euro zone data, eyes turn to U.S.
Timilehin Adejumobi
1 min read
The euro dipped after several data points underscored market expectations of a smaller 25 basis point ECB hike this week, while the Aussie dollar leapt over 1% against the dollar on Tuesday after a surprise central bank rate increase.
The week is also significant in the United States with several pieces of data to be released, including job opening figures later in the day, and Friday’s payrolls figures as well as a Federal Reserve meeting that wraps up on Wednesday.
The euro was last at $1.0973, flat on the day, and back below the symbolic $1.10 level after Tuesday data showed euro zone banks are turning off the credit taps and a key gauge of inflation is finally falling.
Both boost the case for a smaller interest-rate increase by the European Central Bank later this week.
The pound dipped 0.1% to $1.2482.
But investors’ eyes were already turning across the Atlantic with Job Openings and Labor Market Turnover Survey (JOLTS) data due at 15.00 GMT.
This report’s information was first seen on REUTERS; to read more, click this link.
