Forex Top Team

EURUSD temporarily rose to 1.0253 level, due to differences in speculation toward US and European financial authorities

In the early part of London, the movement of the dollar depreciation is spreading. Especially, the rise of EURUSD is remarkable. It is being bought from the first half of 1.01 to the middle of 1.02 at once. A series of statements by US financial officials later last week have receded expectations of a 1.00% rate hike at the next FOMC meeting, and a 0.75% rate hike is likely. This is the background of the weak dollar. In addition, several ECB officials said Thursday that the ECB board would discuss a 0.50% rate hike, intensifying the euro buying move. The change in market speculation has moved in the opposite direction on the FOMC and ECB, strengthening euro buying and dollar selling.

EURUSD temporarily rose to 1.0253 level, a rise of more than 130 points from today’s low 1.0120 level. It was the highest level in about two weeks since July 6th. The Australian dollar, which is expected to raise additional interest rates by the Australian central bank, is also strong. The Australian dollar / dollar pair has risen to the 0.6899 level. Pound dollar hit a high from 1.20 to 1.2024 level. It became higher with the EURUSD. According to the UK employment statistics released on this day, the unemployment rate was only 3.8% and the number of employees increased by 296,000, showing an unexpected recovery. However, the pound has been weak against the euro. The dollar-yen pair broke below 138 yen and widened to the 137.63 level. The cross yen is rising and the dollar yen is falling at a relatively slow pace.

The rise in EURUSD so far is unexpected. Pay attention to whether it stops near the upper price of 1.0300.

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