FOREX-Euro near 1-mth peak versus dollar, supported by inflation shock and ECB hawks

0 1
(Updates throughout, changes byline, dateline)By Sujata RaoLONDON, Sept 2 (Reuters) - The euro held near a one-month high versus the dollar and a six-week peak to the pound, supported by hawkish comments from ECB policymakers after data showed inflation at a decade high and amid signs the Fed is not hurrying to tighten policy.The dollar has been on the back foot over the past couple of weeks as doubts have crept in about when the Federal Reserve will start unwinding its stimulus. Fed chair Jerome Powell said last Friday the jobs recovery would determine the timing of asset purchase tapering.Dovish comments from Powell and other Fed policymakers in addition to data misses have seen the greenback index lose around 1.4% versus a basket of currencies since hitting nine-month highs on Aug. 20.The index was marginally weaker at 92.452 by 0800 GMT, not far off a four-week low of 92.376 touched in the previous session after soft ADP payrolls figures and ISM manufacturing surveys.The e
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.