The dollar’s decline and support the euro on weak US data

The dollar’s decline and support the euro on weak US data

04/02/2015 13:52 GMT

The dollars decline and support the euro on weak US dataAgencies – The dollar fell on Thursday amid new signs of a significant slowdown in the US economy in the first quarter of the year, which could delay the Fed’s decision (US central bank) to begin raising interest rates.
Revenues fell standard Treasuries and shrinking price difference between them and their European counterparts with the growing likelihood that the US jobs report is important, on Friday, weak after weaker-than-expected private sector jobs data, on Wednesday. Traders said it would keep the US currency under pressure.

The dollar index fell 0.45% to 97.743 currency fell to 119.49 yen, while the euro rose 0.6% to $ 1.0831.

Traders will examine the facts of the March meeting of the European Central Bank when issued later, on Thursday, which may lead to some volatility in the single currency during the European session.

He said the foreign exchange market analyst at Nomura Aoujero Goto, “It is likely that the European Central Meeting Minutes shows the difference in the views of policy makers on quantitative easing could help the euro.”

Goto added that “the weak US data put pressure on the dollar and we expect by the non-farm payrolls data that the currency tends to fall against the euro.”