The USD lost some side and retreated to a more than a one-week bottom. This comes after data indicated in a loss of in U.S. private sector employment in January due to the advanced of COVID-19 cases. Presently, the USD versus the Euro trades at 0.885 EUR, which is an addition of 0.0008 or 0.09% from the previous close of 0.8843. The daily trading range is from 0.8843 to 0.8857.
Still however, the Fed is very likely to raise interest rates at the March 15-16 policy meeting. The euro added some ground for a third consecutive day, coming off a 20-month low last week.
This resulted in higher expectations that the European Central Bank could raise interest rates sooner than initially predicted. The USD Index declined 0.3% to 95.9260. It is into a pattern for its largest weekly percentage retreat since November 2020. The euro stands into a good position around 0.3% to $1.1310.