Euro falls against dollar, trading at $0.984

Wednesday, 05. October 2022 16:24

The euro fell against the dollar on Wednesday's session, retreating from previous gains and hitting a session low. The move comes in tandem with the publication of new key economic data in the United States, signaling a decisive upward movement of the American greenback.

Major United States markets also opened lower today despite previous sessions' optimism which fueled the markets due to a possible dovish movement by the Fed in October's meeting. Along with the markets, also today, the British pound lost over 1% against the dollar, and precious metals saw a decline ahead of US jobs data.

The euro was down by 1.38% against the dollar at 10:18 am ET, selling for $0.98444. Meanwhile, the dollar index, which monitors the currency against a six-currency basket, increased by 1.37% to stand at 111.6908 a minute later.

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