Home›Forex›Major Pairs›Euro stays firm above 1.1650 against dollar ahead of F…

Euro stays firm above 1.1650 against dollar ahead of Fed signals

EUR/USD held above 1.1650, supported by Germanys IFO Business Climate improvement to 88.8 in August.

Reported · Written up by our desk · Major Pairs

The euro was steady versus the US dollar on Tuesday, trading above 1.1650 and remaining not far from the three-month high near 1.1710 reached last week, according to FXStreet.

FXStreet attributed euro support to a softer US dollar, alongside investor focus on potential risks to Federal Reserve independence after US Treasury bond buyback plans.

In the Eurozone, German economic data helped sentiment, with the IFO Business Climate Index for August rising to 88.8 from 87.2 in July, exceeding market expectations, while gauges for current conditions and expectations also increased.

Investors are also looking ahead to the US PCE Price Index release on Wednesday, and to Federal Reserve Chairman Kevin Warshs speech at the Jackson Hole summit, as they weigh whether to make larger directional bets on EUR/USD.

Latest closeEUR/USD 1.157 ▲0.4%

More like this

Sources