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28 Aug 2015
EUR/USD tumbles below 1.1200 on comments from Jackson Hole
FXStreet (Córdoba) - The US dollar gained momentum across the board amid comments from Federal Reserve Vice Chairman, Stanley Fischer. EUR/USD broke below 1.1200 and dropped to 1.1158, reaching the lowest level since August 20.
The pair remains near the lows as the dollar index trades at fresh highs. The euro also weakened against the yen and the pound during the last hour.
A dovish Fischer?
Greenback started to rally amid comments from Fischer in an interview with CNBC. According to him a September decision has not been made yet. He mentioned that the direction is toward rising rates, but not certain we were there yet.
It sounded dovish when he mentioned that the direct impact from China was reasonably small. Also pointed out that when the case for a rate hike is overwhelming, a long wait would mean that the waiting was too long.
EUR/USD: 4 days of declines
The euro is falling for the fourth day in a row against the US dollar as it continues the reversal process that started after EUR/USD reached levels on top of 1.1700 on Monday. Since then it had fallen more than 500 pips.
The pair remains near the lows as the dollar index trades at fresh highs. The euro also weakened against the yen and the pound during the last hour.
A dovish Fischer?
Greenback started to rally amid comments from Fischer in an interview with CNBC. According to him a September decision has not been made yet. He mentioned that the direction is toward rising rates, but not certain we were there yet.
It sounded dovish when he mentioned that the direct impact from China was reasonably small. Also pointed out that when the case for a rate hike is overwhelming, a long wait would mean that the waiting was too long.
EUR/USD: 4 days of declines
The euro is falling for the fourth day in a row against the US dollar as it continues the reversal process that started after EUR/USD reached levels on top of 1.1700 on Monday. Since then it had fallen more than 500 pips.