Foreign Exchange Market News

- Nov 21, 2018-

The US dollar fell to a two-week low, under pressure from Fed officials to express cautious remarks on the US economy, indicating that the Fed may be nearing the end of the tightening cycle. The US dollar index fell to a low of 96.120 since November 8 and fell 0.3% to 96.208. The euro rose against the dollar, despite concerns about Brussels and Rome's negotiations on the Italian budget plan. The euro was at $1.1452, up 0.3%, hitting a two-week high earlier. The pound is still in the spotlight, as the pound is expected to remain under pressure until the market gets further clarification on the progress of the Brexit agreement. The pound rose 0.2% to $1.2862.