Weak Dollar Not a Concern For Europe

The U.S. dollar might have skidded to a three-year low but its depreciation is not worrying for Europe just yet, a top-ranking EU official told CNBC at the World Economic Forum in Davos, Switzerland.The euro was 0.2 percent higher against the dollar Thursday morning, trading at $1.2432. This after the dollar saw its biggest one-day drop in 10 months Wednesday — after Treasury Secretary Steven Mnuchin said a weaker greenback is good for the U.S.A weaker dollar could jeopardize European exports as U.S. consumers would likely shun more expensive goods from overseas, in favor of domestic products.”For the time being we see nothing which is absolutely out of control,” Pierre Moscovici, the European commissioner for economic and financial affairs, told CNBC Thursday in Davos.

Source: Dollar slumps to a three-year low but it’s not worrying Europe … just yet – CNBC

When it rains it pours , Mnuchin Mania

Dollar Collapses After Mnuchin Weak Currency Comments

Gold Climbs Against Battered US Dollar, Hits 16-Week High

This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.