FxPremiere.com – The U.S. dollar hit a one-week high against the euro and British pound in early trading in Europe Tuesday news release.
The absence of progress in talks between UK and EU officials over Brexit is also weighing on both currencies onthe dollar, amid rising risks of the U.K. leaving the EU in March without a safety barrier of transitional arrangements,
The EUR/USD pair dropped to $1.1414 by 03:22 AM ET (08:22 GMT), while the pound fell as low as $1.3023 before recovering slightly to $1.3032.
Overnight, the Australian dollar had risen slightly after the Aussie reversed an upbeat tone about the outlook for the economy than some had expected. The RBA left its key rate at 1.8%, as expected, but Governor Philip Lowe declined to drop any hints of further interest rate cuts later in the year, despite fresh sign of consumer weakness in December’s retail sales report. By the close in Australia, AUD/USD was at 0.7248, up 0.7% on the day, while USDNZD was flat at 1.4523
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