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EUR/USD fell below 1.1600 to its lowest level in two weeks as the dollar strengthened broadly, with the euro also weakening against the Swiss franc and pound. The move followed end-of-month flows and positioning ahead of the upcoming FOMC meeting, where the Fed was set to begin tapering.
A stronger dollar on Fed tapering expectations pressures dollar-priced commodities and makes US exports less competitive.
teletrade.orgOct 29, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
On 29 Oct EUR/USD fell below 1.16 to a two-week low on broad dollar strength, end-of-month flows and positioning ahead of the Fed tapering meeting, directly describing the move.
