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Currency: The stable euro dollar pair

08/07/2021
Categories: Economy/Forex

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While traders await the publication of the minutes of a meeting of the American central bank (Fed), which should give indications on its monetary policy, the euro was close to equilibrium on Wednesday against the dollar in a market calm.

The foreign exchange market patiently awaits the minutes of the last meeting of the US central bank. Around 09:10 GMT (11:10 a.m. in Paris), the euro lost a slight 0.02% against the greenback, at 1.1822 dollars. The greenback is moving at a high level against the single European currency: it hit $1.1807 per euro on Tuesday, a three-month high. Currency traders are also watching for signs of recovery in the US economy, which could encourage the Fed to raise its key rates, which would make the dollar more attractive. The ISM professional federation index published on Tuesday, which measures the level of business activity, did not go in this direction: it stood at 60.1%, down 3.9 points from to May and less than the 63% expected by analysts.

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