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EUR/USD reverses and drops toward 1.1250

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD changed it course and dropped from 2-week highs at 1.1326 toward 1.1250. The pair still remains above the level it closed yesterday but is lower from where it was before the release of the FOMC minutes.

    Greenback weakened across the board after the release of the minutes and then managed to stabilize. The euro turned to the downside in the market during the last hour; it erased gains versus the pound. While EUR/USD retreated, GBP/USD remained near daily highs.

    The minutes from the September meeting showed officials believe the liftoff is close; several FOMC members remained concerned about the low inflation. The next Fed meeting will be October 27/28.

    EUR/USD headed to highest close in weeks

    The euro is about to post the highest close since September 18, marginally above Tuesday’s close. But the pair moved considerably away from the highs, after being rejected from above 1.1300.
    For more information, read our latest forex news.

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