The USD rose pretty much. Overview for 14.06.2021

EURUSD dropped due to invertors’ confidence about low interest rates in Europe. 

The major currency pair is rather restrained on Monday but the “greenback” is more favored so far. The current quote for the instrument is 1.2114.

The Euro plunged earlier after the ECB confirmed its intentions to keep the benchmark interest rate low for a long time. at the same time, it seemed like market players decided to ignore the inflation boost in the USA because everyone said it was temporary. 

The European regulator didn’t say anything new for investors but any additional indications to that make them nervous. After the June meeting, one of the ECB policymakers once again said that the flexible monetary policy may require several years and these comments didn’t make market players happy.

The statistics published by the USA last Friday showed that the University of Michigan Consumer Sentiment was 86.4 points in June after being 82.9 points the month before. This was another thing that supported the USD. 

This week, there will be a lot of important information, such as the US price data, and FOMC rate decision and economic projections. It’s going to be very important because a lot may change in light of the recent inflation boost. If there are any hesitations on the part of the Fed compared to its usual stance, the “greenback” may strengthen.