Forex - Euro lower as dollar rises at the forefront of U.S. data
The euro was down against the dollar on Thursday as the greenback gained ground in front of U.S. economic reports later in the day, which were estimated to underline expectations for higher interest rates.
EUR/USD was last at 1.1258, down from Wednesday’s highs of 1.1385.
The euro curved lower as European equity markets gained for a second day, boosted by hopes that a deal on a cash-for-reforms contract for Greece will soon be reached.
On Wednesday German Chancellor Angela Merkel said Greek Prime Minister Alexis Tsipras had settled to work “intensively" with the country’s creditors in order to evade default at the end of the month.
Investors were looking forward to U.S. reports on retail sales and jobless claims later in the day that could stimulate expectations for a September rate walk by the Federal Reserve.The dollar was also higher in opposition to the yen, with USD/JPY up 0.88% to 123.72, rebounding from Wednesday’s lows of 122.45. The dollar finished that session down 1.34%, the largest one-day turn down in 6 months.
The U.S. dollar index, which measures the greenback’s strength in opposition to a trade-weighted basket of six main currencies, was up 0.58% to 95.12, getting better Wednesday’s three-week lows of 94.30.
