BREXIT: Dollar Maintain Gains Against Euro
As the United Kingdom (U.K.) and Europe battles with BREXIT, the dollar maintain three-month highs versus the euro on Thursday. This is supported by sustained strength in core U.S. inflation and weaker-than-expected data out of Europe. While headline United States (U.S.) inflation is at its weakest pace year on year for the past two years this January, traders focussed on the core price gauge, which stayed up for the third straight month, giving the dollar some impetus. The euro is trading below the psychologically important 1.13 dollar level at 1.1283 dollar. Earlier in the session, it hit an intra-day low of 1.1245 dollar. The greenback was hit earlier this year by the Federal Reserve’s shift to a cautious policy stance. However, the latest data suggests the central bank will need to stay vigilant on pricing pressures even as it adjusts to heightened growth risks. The Australian dollar, which is often considered a barometer for global risk appetite, is up 0.3 per ...