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Euro Rallied to 6-Month High as Strong Data Raised Hopes for a More Upbeat ECB

Posted May 17th, 2017 by povpam334385 and filed in General News
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The euro rallied, as more encouraging dataflow raised expectations that ECB would adopt a less dovish stance in its upcoming meeting in June. Currently trading around a new 6-month high of 1.11, the single currency jumped almost +1% against US dollar. Extending the 5th consecutive day of strength, EURGBP has rallied +2.36%. Another highlight of the day was US dollar’s weakness. Currently trading around 97.96, the DXY index has sank to the lowest level since November 2016 after 4 days’ of selloff.

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Euro Rallied to 6-Month High as Strong Data Raised Hopes for a More Upbeat ECB

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