Euro Has Decreased by 0.40%
The euro fell by 0.40% today. The euro/dollar pair is trading at 1.1712 level. The economy of the Eurozone improved in 2017, but low inflation rates remain the main problem for ECB’s politicians. The Eurozone inflation was 1.3% year-on-year in July, well below the ECB's 2% target.
Earlier this year, the Fed has hinted that this year it plans to raise rates three times, but so far only two increases have taken place - in March and June. Last week, St. Louis Federal Reserve President James Bullard said that he was against any further increases in rates. The politician said that the next rate hike will further slow the growth of inflation in the US. The chances of a rate hike in December are 42% now.