Currency Buzz: Euro Climbs Back To Parity

9 Sep 2022 , 03:34 PM

The European unit recovered back to parity against the dollar on Friday as the greenback came under renewed pressure, off its two decade peak. The dollar index that measures the greenback against a basket of currencies was down more than 1% at 108.53 while the 10-year US Treasury bond yield stays relatively quiet at around 3.3%. Meanwhile, hawkish European Central Bank which raised its key interest rates by an unprecedented 75 basis points on Thursday helped euro. Euro, that carries maximum weight in the dollar basket benefitted from dollar weakness and is currently quoting up nearly 1% at $1.0092.Powered by Commodity Insights