The euro is up for a second day against the US dollar

The euro rose on Tuesday against a basket of global currencies to continue gains for the second day in a row against the US dollar as US currency levels continue to drop against most major and minor currencies, as investors continue to cover short positions ahead of the ECB meeting on Wednesday.

The euro rose against the dollar by 0.1% at 07:30 GMT, trading at $ 1.1270, the opening price of $ 1.1261, the highest at $ 1.1272 and the lowest at $ 1.1255.

Yesterday, the euro gained 0.4% against the dollar, its first gain in three days, and the biggest daily gain since March 20.

The dollar index fell 0.1% on Tuesday, continuing its second consecutive day of decline, reflecting the continued decline of the US currency against a basket of major and secondary currencies.

The continued decline of the dollar levels is the continuation of weak economic data in the United States, which supports the decision of the Federal Reserve to suspend the raising of US interest rates during this year.

On the other hand, the rise in the euro supports investors' continued coverage of positions on the single European currency ahead of the European Central Bank monetary policy meeting on Wednesday. The meeting is expected to provide further evidence on European economic outlook and the future of monetary policy.


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