Tuesday 8 March 2016

EUR/USD finished the day above the psychological level of 1.1000

The single currency rose against the US Dollar on Monday after the statements of members of the Fed, which added further confusion about the timing of the next rise in interest rates.
The pair traded between 1.0939 and 1.1025, before settling at 1.1013.
The euro rose after Brainard said that the rise in interest rates by the US central bank should be postponed in time, citing that inflation is not expected to reach soon the 2% target.
Also, Stanley Fischer brought additional turmoil as delivered an adverse opinion, expressing hope that inflation rates will continue to increase, as a rise in oil prices should help to achieve the objective of the bank.
The dollar was weaker against most of its rivals during the trading session on Monday.


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