The U.S. dollar gained against the euro today on Forex market for a third day in a row, as the yesterday’s U.S. fundamental data reassured traders that the Federal Reserve will keep the interest rate unchanged on its next week meeting.
Dollar was also supported by its strong oversold position on the currency market. After reaching 1.6018 euro/dollar entered the the range where its rate was no longer comfortable for anyone — both U.S. and Europe.
The euro in its turn is under pressure from the not-so-good economic indicators. German Ifo Business Climate Index (and its report statement) disappointed the market participants — it was at 102.4 in April against the 104.3 forecast. Import price index was also lower than expected — 5.7% in March (year-to-year) compared to the 5.9% forecast.
EUR/USD reached 1.5581 — its minimum value since the 3rd of the April today. As of 7:54 GMT EUR/USD is trading at 1.5593 — a 0.5% loss for today.
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