Dollar Dips to Four Month Low Against Euro – 10 July, 2020

Hopes that some European Union leaders will agree on a stimulus to help ease economic strains caused by the coronavirus pushed the euro gain against the dollar. At its highest since March 10, the euro rose $1.1423, just below the years high of $1.1495. The common currency was at a one-month high against the yen at 122.47 and a two week high against the pound at 91.125 pence. The dollar index fell to a one month low of 96.056. U.S. consumer prices were on a 0.6% month to month rebound causing the dollar to extend losses. The Australian dollar was up 0.2% to $0.6985, while the pound last stood at $1.2571, and the yen was little moved at 107.27 yen per dollar.