The euro today fell to its daily lows against the US dollar in the Asian session as the greenback rebounded driven by the risk-off investor sentiment amid. The EUR/USD currency pair rallied from its intra-day lows in the early European session, but later gave up its gains and printed new daily lows in the American session.
The EUR/USD currency pair today rallied to a high of 1.1228 in the mid-European session before falling to a low of 1.1170 in the American session.
The currency pair fell to its intra-day lows during the Asian session as investors bid up the US dollar in a classic ‘flight-to-safety’ trade. The risk-off investor sentiment kept the pair trading at its lows into the European session. The currency pair continued to trade at its lows following the release of the final print of the German consumer price index report for July by the Federal Statistical Office, which came in at 1.7% as expected. The pair rallied higher despite the release of the disappointing German ZEW survey data as investor sentiment shifted in favour of the single currency.
The currency pair crashed to its daily lows in the American session after the US said it would delay the implementation of some Chinese tariffs. The pair was also affected by the release of the US consumer price index data by the Bureau of Labor Statistics.
The currency pair’s future performance is likely to be affected by tomorrow’s German GDP data and trade headlines.
The EUR/USD currency pair was trading at 1.1172 as at 18:18 GMT having fallen from a high of 1.1228. The EUR/JPY currency pair was trading at 119.17 having risen from a low of 117.69.
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