Dollar strengthens, Euro also rises after ECB meeting

Jieeselee.online– The dollar jumped in early European trading on Friday, recovering from a one-month low against the euro following Thursday's European Central Bank meeting.

At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.1% higher at 93.438, just above Thursday's low. was 93.277 - a level not seen since September 27.

USD/JPY traded lower at 113.53, GBP/USD almost flat at 1.3788 and AUD/USD flat at 0.7544, after hitting its highest level since early July. at 0.7555 in the previous session.

EUR/USD fell 0.1% to 1.1665 after rallying to a high of 1.1692 overnight, the first time since September 28.

This follows Thursday's ECB meeting, which resulted in the central bank leaving interest rates and asset purchases unchanged, as expected. However, the focus is on Christine Lagarde, with the ECB President suggesting that inflation will be even higher in the long run, prompting traders to bet on the central bank tightening monetary policy soon.

“The ECB still considers the period of higher inflation to be temporary but has been much more balanced, paving the way for further reductions in asset purchases in December,” said ING analyst Carsten Brzeski.

Traders will keep an eye on economic data from both regions later in the day, with preliminary data on Europe's consumer price index, while the US has spending and income data. individual.

Looking ahead, the Federal Reserve and the Bank of England are expected to deliver their policy decisions next week. The Fed is expected to start easing asset purchases as of this meeting, while the BOE is expected to announce a rate hike.

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