Euro at one-week high, helped by rowback in Fed rate hike bets

Published by
Reuters UK

By Sujata Rao and Rae Wee LONDON (Reuters) – The euro firmed to a one-week high on Monday, benefiting from the dollar’s retreat after several Federal Reserve officials signaled they did not favour stepping up the rate hiking pace. The comments made late last week knocked the dollar off two-decade highs and encouraged traders to add to risk, boosting global stocks and non-dollar currencies, especially the euro. The greenback’s index, measuring its rate against six global currencies, is now 1.8% off last week’s 20-year peaks and by 0800 GMT, stood 0.35% lower at 107.48. The euro, the main compon…

Read More

Leave a Reply