Forex

Euro declines before ECB decisions

2021-06-10 10:31:31 GMT (Economies.com)

Euro fell in European trade against dollar away from week highs before major US inflation data and the European Central Bank's policy decisions. 

 

EUR/USD fell 0.2% to 1.2153, with an intraday high at 1.2180, after closing up 0.1% yesterday, erasing earlier gains on profit-taking away from week highs at 1.2218.

 

The dollar index rose over 0.1% on Thursday on track for the second profit in three days against a basket of major rivals. 

 

Investors expect US inflation data to lead to policy tightening by the Fed early next year by reducing bond purchases. 

 

The ECB is wrapping up its policy meeting today as Covid 19 vaccination efforts accelerate in Europe and with most European governments relaxing shutdown restrictions. 

 

ECB President Christine Lagarde is expected to talk following the meeting at 12:30 GMT, with the ECB expected to maintain currency policy unchanged but provide clues on future steps. 

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