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Daily FX
Euro Sells Off as Investors Flock to the Safety of the Dollar
Tuesday July 31, 5:28 pm ET
By Kathy Lien, Chief Strategist strategist@dailyfx.com
A flight to safety has pushed the Euro lower against the US dollar today. Economic data was mixed with German retail sales increasing less than expected on a monthly basis but more than expected on an annualized basis.
The number of people unemployed also dropped, which is promising. However there is not information to tell whether the ECB will raise rates in September or October.
Related articles:
Euro Breaks Out, Headed Towards All Time HighsEuro Slips Back Towards 1.40Euro: More Reasons to Hit 1.50Euro Rebounds on Dollar WeaknessEUR/CHF Sees Biggest Weekly Drop in 4 Months |
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