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As on Apr 23, 2021 12:00 AM Your results on : Mid Session    
Currency Buzz: US Dollar Index Surges After ECB Keeps Monetary Policy Unchanged
23-Apr-2021 (11:41)
The US dollar rose yesterday as a bounce from seven week lows extended for the dollar index. The European Central Bank (ECB) said yesterday that it is keeping its monetary policy unchanged. Preserving favorable financing conditions over the pandemic period remains essential to reduce uncertainty and bolster confidence, thereby underpinning economic activity and safeguarding medium-term price stability, ECB President Lagarde said at a press conference on Thursday. The ECB said Will continue to conduct net asset purchases under PEPP until at least the end of March 2022. Incoming economic data, surveys and high-frequency indicators suggest that economic activity may have contracted again in the first quarter of this year, but point to a resumption of growth in the second quarter, Lagarde noted. This benefitted the dollar while pulling the Euro lower and the EUR/USD pair fell near a seven week low of 1.2070. The Dollar index moved up above 91 mark following this and currently lingers at 91.18, down marginally on the day.

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