Dollar lower as the euro gains momentum

Monday, 24/07/2017 | 08:48 GMT

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Weekly synopsis

The U.S. dollar traded to weaker areas versus its major counterparts on Friday as the euro gained bullish momentum following the U.S.'s political uncertainty in place.

U.S. dollar index at 93.78

The U.S. dollar index aimed at 93.78 declining 0.32% ending the week 1.32% lower.

The EUR/USD aimed at 1.1683 rising to its strongest zone within a period of two years.

Last Thursday, Mario Draghi, European Central Bank's President, stated that the bank will likely be trimming its asset purchase scheme soon enough.

Furthermore, the investigation over Russia and Trump's link regarding last year's campaign resumes.

The USD/JPY pair approached the 111.02 zone and the GBP/USD reached the 1.2993 area appreciating 0.15%.

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Source: https://www.argusfx.com/en/research-education/market-analysis/weekly/dollar-lower-as-the-euro-gains-momentum

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