USD Pushes Higher Against EUR, JPY
ICM Brokers | Aug 27, 2015 06:16AM ET
The euro was down more than 1% against the dollar on Wednesday after a senior European Central Bank policymaker warned that the risks to its short-term inflation target have increased and hinted at fresh easing to combat deflation. EUR/USD was down 1.15% to 1.1385, extending its pullback from the eight-month highs of 1.1715 hit on Monday.
The dollar trimmed gains against pound on Wednesday, but remained supported as the release of strong U.S. data on capital goods orders added to optimism over the strength of the economy. The dollar was higher against the pound, with GBP/USD down 0.80% at 1.5560.
The dollar pushed higher against the yen on Wednesday as market volatility eased after China eased monetary policy, allaying fears over an economic slowdown which fueled a broad based selloff in global financial markets. The dollar recovered ground against the yen, with USD/JPY up 0.5% to 119.5, not far from overnight highs of 119.85.
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