Euro rebounds from its lows in light of the dollar's decline

16 Aug 2018 03:53 PM

The euro recovered from its lowest level since late June 2017, as the dollar fell after news of holding trade talks between China and the United States in Washington later this month.

The euro rose from a 14-month low of 1.13 to currently at 1.1380 levels, its highest level since the beginning of the week, while the dollar index fell from its highest level in more than a year near the levels of 97 to return to levels of 96.50 currently.

The Turkish lira continued to recover by more than 3% during today's trading despite the fact that the problem was not dealt with drastically, pending the presentation of the Turkish Minister of Finance for investors, and the USDTRY fell to 5.47 levels its lowest since August 10, ignoring US statements that rule out to remove tariffs on steel until If the American pastor were released.

Sterling remained close to 14-month low and strong retail sales data did not provide enough support for the currency, where concerns about leaving the EU without a deal still press on GBP.

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