Optimistic speech of ECB's leader could not stop dollar's growth,

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Optimistic speech of ECB's leader could not stop dollar's growth,

October 26, 2018 - 11:54
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Relatively optimistic speech of ECB's leader could not stop dollar's growth, as investors turned their attention to different directions of US and euro area's economies, Bloomberg reports.

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Relatively optimistic speech of ECB's leader could not stop dollar's growth, as investors turned their attention to different directions of US and euro area's economies, Bloomberg reports.

Dollar reached the highest level in 2018 after Mario Draghi informed that risks for euro area's growth are balanced. This announcement appeared after a whole row of disappointing data including PMI index decline.

These data contrasts with economic picture of the US. Indicators of economic growth are quite high, while US Fed keeps hiking interest rates. As a result, investors preferred dollars not euro.

On Friday dollar grew relative to most major currencies. Bloomberg Dollar Spot Index gained 0,1% to the highest level in 2017. Euro is down 0,1% to $1,1366.

Data on economic growth of the US will be issued on Friday, and most likely they will show slowdown compared with the previous period.