Euro gains as ECB viewed as less worried about strong currency
14 Sep 2020 | Economic News
View 490
Euro gains as ECB viewed as less worried about strong currency
The euro rose for a third straight session against the dollar on Friday, with investors encouraged to push it higher after the European Central Bank showed no sign of stemming the single currency’s appreciation.
In afternoon trading, the euro rose 0.2% to $1.1831 EUR=EBS, but posted a second straight week of losses. It did reach a one-week high of $1.1917 on Thursday.
The dollar index, which tracks the greenback against other major currencies, was flat to slightly lower at 93.320. The index though showed a second week of gains.
The dollar was little changed against the yen at 106.10 yen.
Friday’s data showing a rise in U.S. consumer prices last month had little impact on the dollar. U.S. consumer price index rose 0.4% last month, after gains of 0.6% in June and July.
Overall, some analysts believe the dollar has scope for further gains as a safe haven amid still heightened uncertainty related to the COVID vaccine and the global recovery from the virus-induced downturn.
Thai
Eng