EUR/USD at 1.3570 as U.S. Dollar Struggles

The U.S. dollar wallowed at one-week lows against a basket of major currencies on Wednesday, undermined by lower Treasury yields after a batch of data failed to sway markets one way or the other over when the Federal Reserve will scale back stimulus.

The dollar index fell as low as 80.599 and last stood at 80.649, well off this week’s peak of 81.023. Against the yen, the dollar retreated to 101.27 from a six-month high of 101.91 reached on Monday.

Renewed pressure on the greenback helped the euro hit a one-week high of $1.3575, bringing in sight last week’s peak of $1.3584 and this month’s high of $1.3589.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.