U.S. Markets close in 1 hr 12 mins

How the European Central Bank Shortened the Euro’s Rally

Ricky Cove
How the European Central Bank Shortened the Euro’s Rally

The euro-US dollar (FXE) exchange rate closed the week ended April 13 at 1.2, with the euro appreciating 0.39% against the dollar (UUP). The European currency, which failed to capitalize on the weaker US dollar, was impacted by soft economic data and cautious comments from the ECB (European Central Bank). The ECB keeps pushing away any talk of tightening, leaving investors wanting more as the economy seems to be on a continued path of recovery.