Traders of the EUR/USD have been on a roller coaster ride since the beginning of the year. Initial expectations that “Trumpflation” would lift the greenback effectively drove the Euro to 14-year lows. However, with the woes that have plagued the Trump White House in recent months, specifically markets’ doubt that Trump can push through his promised campaign agenda of increased infrastructural spending and tax cuts, the Dollar has been driven markedly lower.
As reported at 10:52 am (JST) in Tokyo, the EUR/USD is trading at $1.1682, a gain of 0.05%; the pair has ranged from $1.16706 to $1.16933 in today’s trading session. The EUR/GBP is lower at 0.89356 Pence, a loss of 0.04%.
Euro Outlook Positive
As a result of market skepticism, the Euro has gained strength and had topped out above its 1999 financial market launch price. Earlier, the EUR/USD pair had struck a 2½ year peak at $1.18, a level not seen since the European Central Bank embarked upon its Quantitative Easing plan in early 2015. Analysts are predicting that Mario Draghi and the ECB will be easing back on the QE pedal, perhaps as soon as early next year.
