The euro rose to a new 1.5-week high against the weakened dollar on Thursday, as investors closely follow peace talks taking place over Ukraine, while also keeping their attention on the Bank of England’s meeting scheduled for later today.
The U.S. dollar remained under pressure amid growing concerns about the infiltration of partisan divisions into key American institutions.
Additionally, U.S. unemployment claims data, expected later today, will draw investor attention following last week’s disappointing figures in the payroll besides farm sector, which sparked expectations of a more dovish stance by the U.S. Federal Reserve and further pressure on the dollar.
The euro increased by 0.14% to $1.1677, its highest level since July 28, with a potential peace deal in Ukraine viewed as a positive driver for the single currency.
Source: CNA
Feature photo source: Pexels
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