ECB Rates Signal Hurts Euro – 29 October, 2020

A signal of monetary easing by the European Central Bank caused the euro to fall near a four-week low against the dollar. The dollar index was propelled to a four-week high, boosted by the euro’s decline, and on track for its second monthly gain at 93.916. The European Central Bank is said to have a decision about a response to rates by December as the second wave of coronavirus infections is monitored. The euro was little changed after hitting a four week low of $1.1650, last standing at $1.676 and eased to 122.08 against the yen. The greenback was little changed against the yen at 104.55 yen, while sterling last traded at 1.2927. The Australian dollar was just above a three month low at $0.7031, and the kiwi was last trading at 0.6623 per dollar.