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Further Round of EUR/USD Buying Sends USD Lower Still

DOLLAR

Further wave of EUR/USD buying goes through, boosting the rate to new daily highs of 1.1781. Persistent EUR/USD strength is weighing on the greenback further, putting the USD index within range of last week's lows at 93.005.

EUR/USD rally today now just shy of bull trigger at the Oct 13 / Oct 9 highs of 1.1817/31, which becomes the first upside target.

Moves come following speech from ECB's Mersch, who stated that the FX rate and recent appreciation of the EUR is expected to continue to weigh on the inflation outlook. Full speech foundhere.

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