Top currency trade stuck in a Fed-induced rut
US$ has been hovering around its short- and medium-term averages against the euro since late June
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New York
TRADING the world's most widely used currency pair has become a thankless chore for investors.
The dollar has been hovering around its short- and medium-term averages against the euro - near US$1.10 per euro - since late June. An economic slowdown in China and a commodity rout have pushed the greenback higher this quarter versus most major peers. Yet it registered the smallest move in that time against the common currency amid signs of European growth and expectations that the Federal Reserve will take its time in raising US interest rates.
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