Dollar Rebounds After Recent Sell-Off as Traders Await ECB

[Epoch-Times-Bot]

Dollar Rebounds After Recent Sell-Off as Traders Await ECB

LONDON/SINGAPORE—The dollar rallied on Thursday, after earlier falling to a one-month low in choppy trading ahead of an expected rate hike from the European Central Bank (ECB).
The greenback has slid in recent days as investors have cheered signs that the U.S. Federal Reserve is considering slowing down its aggressive rate hikes in December. Yet the dollar reversed course on Thursday in what analysts said was a natural bounce after a steep decline.
The euro on Thursday peaked at a more than one-month high of $1.0094 before falling as the dollar strengthened.
It was last down 0.47 percent at $1.0032 ahead of the ECB’s decision at 1215 GMT. The central bank is expected to raise its deposit rate by 75 basis points (bps) to 1.5 percent, a 13-year high. It is also likely to reel in a key subsidy to commercial banks....

Source: Dollar Rebounds After Recent Sell-Off as Traders Await ECB

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