26 Aug 2015
EUR/USD slides below 1.1350 as US stocks soar
FXStreet (Córdoba) - EUR/USD dropped further and bottomed at 1.1319, the lowest level since last Friday, extending to 200 pips today’s decline.
After a short-lived recovery favored by comments from William Dudley, NY Fed President, pointing out that conditions area less favorable for a September liftoff than some weeks ago, EUR/USD resumed the decline from above 1.1400 and broke previous lows.
Ahead of the last 30 minutes of trading in Wall Street, the pair remains near the lows with the US dollar holding momentum against European currencies.
EUR/USD sharp reversal
Two day ago the pair tested levels on top of 1.1700 and pulled back. It retreated further and recently completed a 400-pip slide from weekly highs.
Expectations about a delay in Fed’s liftoff failed to weaken the US dollar. Stocks in Wall Street could be supporting the decline of EUR/USD. The Dow Jones is rising 3.50% or more than 500 points while the Nasdaq gains 3.65%.
After a short-lived recovery favored by comments from William Dudley, NY Fed President, pointing out that conditions area less favorable for a September liftoff than some weeks ago, EUR/USD resumed the decline from above 1.1400 and broke previous lows.
Ahead of the last 30 minutes of trading in Wall Street, the pair remains near the lows with the US dollar holding momentum against European currencies.
EUR/USD sharp reversal
Two day ago the pair tested levels on top of 1.1700 and pulled back. It retreated further and recently completed a 400-pip slide from weekly highs.
Expectations about a delay in Fed’s liftoff failed to weaken the US dollar. Stocks in Wall Street could be supporting the decline of EUR/USD. The Dow Jones is rising 3.50% or more than 500 points while the Nasdaq gains 3.65%.