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2 May 2013
Forex: EUR/USD oscillates around 1.3200 as Draghi speaks
FXstreet.com (Córdoba) - The euro extended gains to fresh daily highs against the dollar after data showed US jobless claims dropped to 324K last week and as Draghi addresses press in Bratislava following the ECB decision to cut the refi rate to a record low of 0.5%.
EUR/USD hit a high of 1.3218 but has been unable to break above that level so far, as investors cautiously listen to Draghi's remarks. At time of writing, EUR/USD is trading around 1.3180, where it is virtually unchanged since opening.
Draghi said in the conference that the ECB stands ready to act if needed and will look at all incoming data and monitor developments with regard to further rate cuts.
EUR/USD hit a high of 1.3218 but has been unable to break above that level so far, as investors cautiously listen to Draghi's remarks. At time of writing, EUR/USD is trading around 1.3180, where it is virtually unchanged since opening.
Draghi said in the conference that the ECB stands ready to act if needed and will look at all incoming data and monitor developments with regard to further rate cuts.