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13 Mar 2015
EUR/USD hits fresh 12-year lows sub-1.0500
FXStreet (Córdoba) - EUR/USD came under renewed pressure and hit fresh 12-year lows sub 1.0500 as the dollar picked up momentum during the last trading session of the week.
Despite disappointing US PPI and consumer confidence figures, the dollar received another boost and dragged EUR/USD and GBP/USD to multi-year lows during the New York session.
EUR/USD broke decisively below the 1.05 mark and fell to its lowest level since January 2003 at 1.0481. At time of writing, the pair is trading at the 1.0520 area, recording a 1.07% loss on the day and on track for its fourth week of losses.
EUR/USD remains on a clear downtrend amid divergent monetary policy stances between the Fed and the ECB, with the latter having launched its QE program this week. Attention now turns to the FOMC meeting next Wednesday, for clues over the timing of a rate hike.
Despite disappointing US PPI and consumer confidence figures, the dollar received another boost and dragged EUR/USD and GBP/USD to multi-year lows during the New York session.
EUR/USD broke decisively below the 1.05 mark and fell to its lowest level since January 2003 at 1.0481. At time of writing, the pair is trading at the 1.0520 area, recording a 1.07% loss on the day and on track for its fourth week of losses.
EUR/USD remains on a clear downtrend amid divergent monetary policy stances between the Fed and the ECB, with the latter having launched its QE program this week. Attention now turns to the FOMC meeting next Wednesday, for clues over the timing of a rate hike.