The US dollar index rebounded with a vengeance yesterday, enthused by comments from Fed-voter Evans, who took a somewhat more neutral stance as he noted the US economy is ‘quite solid and is posting good growth’.
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EUR/USD bulls went on the offensive Tuesday, consequently snapping a two-day losing streak and adding more than 25 points, or 0.24%. Sentiment among German executives improved slightly, according to the Institute for Economic Research.
In the early hours of London Monday, Europe’s single currency experienced a sharp change in mood versus the buck, dropping on the back of disappointing Eurozone flash metrics across the board.
Optimism over EU’s Juncker’s comments regarding the possibility of a breakthrough on the Irish backstop turned out to be reasonably short lived. The British pound decisively switched lower vs. the dollar Friday following various EU officials claiming the UK has still not delivered proposals compatible with the principles of the existing Withdrawal Agreement.
