# EUR/USD returns to 1.1060 area after spiking toward 1.11 on hawkish ECB commentary - Forex Crunch

> EUR/USD spiked to 1.1092 on hawkish-sounding ECB comments from Governing Council member Klaas Knot, then fell back to about 1.1060. The dollar index rose toward 98.50 after US Q2 GDP was confirmed at 2%. Knot said markets had overdone expectations for a September decision.

- Date: 2019-08-29 · published 2019-08-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/57802-eur-usd-returns-to-1-1060-area-after-spiking-toward-1-11-on-hawkish-ecb
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Routine currency moves with no lasting shift in fundamentals; the dollar's direction matters only marginally for grain export competitiveness.

## Read by commodity

- DXY: neutral
- EURUSD: neutral

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2019/08/29/eur-usd-returns-to-1-1060-area-after-spiking-toward-1-11-on-hawkish-ecb-commentary/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.