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Euro stands tall, dollar in the doldrums

Investing.com - The euro Friday held near levels last seen over a year ago as the dollar continued to languish.The euro was off 0.10% at $1.1429 at 03:15 ET. The single currency hit a 14-month high of $1.1445 overnight.The detonator for the surge in the euro was hawkish remarks by ECB chief Mario Draghi earlier in the week.His comments were interpreted as preparing the market for an eventual scaling back of ECB stimulus measures.The single currency was on track for gains of over 2% this week and over 7% for the second quarter.The dollar was also undermined by gains in the pound after comments Wednesday by Bank of England governor Mark Carney.Carney laid out the case for a possible U.K. interest rate hike if inflationary pressures persist. Sterling traded at the $1.30 mark Friday.The dollar index was up 0.06% at 95.38 after falling to 95.22, its lowest level in about nine months.The dollar slipped against the yen to below 112.The euro gave up some gains against the yen to trade below the ¥128 mark. The Aussie was steady against the dollar as China's manufacturing PMI unexpectedly rose to 51.7 in June.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.