Forex - EUR/USD steady as ECB rate hike view supports
Investing.com
Published Apr 04, 2011 02:31AM ET
EUR/USD hit 1.4268 during late Asian trade, the pair’s highest since November 4; the pair subsequently consolidated at 1.4235, easing up 0.01%.
The pair was likely to find support at 1.4114, last Thursday’s low and short-term resistance at 1.4281, the high of November 4.
The single currency has rallied this year amid expectations that the Federal Reserve will lag the ECB in raising interest rates.
On Friday, a senior Federal Reserve official dismissed the idea that the central bank would soon consider raising interest rates, saying he saw no need for the central bank to tighten policy.
William Dudley, president of the New York Federal Reserve Bank, said the Fed was "still very far away" from achieving its mandate of maximum sustainable employment and price stability, even though the economy was on a firmer footing.
Meanwhile, the euro was lower against the pound, with EUR/GBP sliding 0.28% to hit 0.8810.
Later Monday, the Chairman of the Fed, Ben Bernanke was to speak.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.