Currency Buzz: EUR/USD Lingers Close To Parity

26 Aug 2022 , 03:53 PM

Euro has been sliding below parity off and on during the week tracing movement in the US dollar index. The American currency swayed between the red and green for most part of the week following a sharp rally during the last two weeks. The dollar index was hovering around 20 year peak that weighed down the euro that carries maximum weight in the dollar basket. The US dollar firmed up on Friday tracking higher treasury yields ahead of the Jackson Hole Symposium later in the global day for further cues on Feds onward path on rate hikes. The US dollar index, DXY is currently down 0.15% at 108.27, holding just below a 20-year high of 109.29 reached on July 14. Benchmark treasury yields are hovering above 3% mark. EUR/USD is lingering near parity after falling below the level earlier in the day and is quoting at $1.003. Powered by Commodity Insights