European Session – Dollar firmer after strong US personal spending rises
Posted on January 31, 2014 at 2:55 pm GMTRisk aversion dominated the currency markets on the last day of the month, causing volatility and buoying the safe haven yen, while the dollar was stronger against the euro and the pound. Month-end repositioning also played a role in directing currency flows. The euro had a rough week, falling down to 2-month lows after extending losses today on soft Eurozone inflation data. January’s headline number showed a surprise drop to 0.7 % year-on-year, debunking forecasts for a rise to 0.9%. [..]