EUR/USD fell 1.2 per cent in response to ECB President Mario Draghi’s comment s were seen as more dovish than expected. EUR/USD hit a two-week low of $1.1090.
Mario Draghi put downward pressure on the euro after he cut growth and inflation forecasts for the Euro zone and signalled that further monetary easing might be necessary.
EUR/GBP fell 0.75 per cent and EUR/JPY dropped by 1.2 per cent , hitting a 15-month low of Y133.11. Ten-year German Bund yields also fell.
AUD/USD opened in Asia at 0.7018, fell from 0.7022 to 0.6959.
USD/JPY traded from 120.19 to 119.10. The main risk to this pair and to the dollar in general will be today’s all-important US non-farm payrolls report.
The US government is expected to report this Friday that the economy has added 223,000 new jobs in August and that the unemployment rate ticked down to 5.2%.That would be an improvement from the July reading, when the economy added 215,000 new jobs, and would send the unemployment rate to a 7-year low.
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