- Euro vs US Dollar trades in the mid 1.09s, rising slightly after the release of euro area S&P Global PMIs.
- Euro further supported by comments from ECB’s Lagarde that Governing Council “still has some way to go.”
- US Dollar pressured after poor labor and manufacturing data on Thursday.
The Euro (EUR) snakes along in the mid 1.09s against its biggest counterpart, the US Dollar (USD), during the early European session on Friday. With the banking crisis now seemingly in the rear-view mirror the focus is back on the fight with inflation, and both currencies are benefiting from expectations of higher interest rates. More broadly, the EUR/USD pair appears to be undergoing a correction after making new year-to-date highs of 1.1075 on April 14.
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