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USD Regains Footing as EUR Drops due to Dovish Comments from ECB

January, 20 2017
watermark Economic news

The USD was able to reclaim the majority of its losses prior to the inauguration of US president-elect Donald Trump due to an increase in Treasury yields along with a plummeting euro after Draghi stated that there are no concrete signals yet which indicate an actual inflation in the eurozone. The EUR increased slightly in value during the earlier parts of this week after uncertainties that the recent positive outlook for economic data in the EU might have been the catalyst for the ECB to discuss the tapering of the central bank’s asset purchases.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.