Euro falls off early October highs versus dollar

Economies.com
2018-10-17 16:04PM UTC

Euro fell in American trade away from early October highs versus dollar, following a stream of data from the euro zone and the US today. 

 

As of 03:51 GMT, EUR/USD fell 0.26% to 1.1544, with an intraday high at 1.1581, and the lowest since October 11 at 1.1521. 

 

Earlier euro zone data showed consumer prices rose 2.1% as expected, up from 2% in August, while core prices rose 0.9% as expected as well. 

 

German Chancellor Angela Merkel warned that the Irish border issue is the main hurdle standing against a Brexit deal with Britain, adding the devil is in the details with the border agreement, while noting that Germany is already preparing for a no-deal scenario. 

 

Otherwise, earlier US data showed housing starts fell 5.3% in September to an annualized 1.201 million units, compared to a 7.1% surge in August, and edging estimates of a 5.6% drop. 

 

Building permits fell 0.6% last month to 1.241 million units, compared to a 4.1% decline in August, and missing estimates of a 2% increase. 

 

Federal Reserve Governor Lael Brainard will deliver a speech titled "Fintech and Financial Inclusion" at the Federal Reserve Bank of Boston's Fintech conference later today, while the Fed is slated to release its minutes for the September 25-26 meeting. 

 

US President Donald Trump accused the Federal Reserve of causing a sharp correction in markets with its interest rate policy, considering it too strict and a "mistake". 

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