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Expat Currency Update: EUR/USD Exchange Rate Slumps to Four-Month Low amid Rising US Treasury Yields

EUR/US Dollar Currency Tranfers

Learn more about the exchange rate market. Read our EUR/USD currency update for the latest news and move your money at the right time. Discover how to save money and benefit from all the advantages that TorFX, our trustworthy partner offers. From no-fees currency transfers to fixed exchange rate up to two years.

If you’re an expat and need to move money between your home and adopted country, securing the right exchange rate for your currency transfers can make a big difference to how much you receive.

USD Rallies on Soaring US Bond Yields

The Euro to US Dollar exchange rate tumbled to a new four-month low over the past week, amid broad-based demand for the ‘Greenback’. This has been driven in large part by the continued appreciation of US Treasury yields, which soared to a one-year high after Federal Reserve Chair Jerome Powell mostly dismissed concerns over the bond market.Further bolstering the US Dollar last week was the publication of a bumper US payroll reading, which revealed the US economy added 379,000 jobs in February and came in well above expectations.

After driving the EUR/USD exchange rate to a four-month low on Monday, we have seen the US Dollar pull back on the throttle a little this week, as US stimulus optimism and weakening yields cheered markets at the expense of the safe-haven currency. Meanwhile, the Euro was unable to put up much of a fight against the US Dollar last week as the appeal of the single currency was undermined by abysmal Eurozone retail sales figures. This downtrend in the single currency persisted into this week as well after data revealed a surprise slump in German industrial production in January and the Eurozone’s latest GDP estimate printed below expectations.

EUR/ USD Currency transfer

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ECB in the Spotlight

Looking ahead, the main focus in the second half of this week will be the European Central Bank’s latest rate decision on Thursday. No policy changes are expected from the ECB this month, but EUR investors will be eager for the bank’s insight on the EU’s vaccine rollout and how this could impact its economic outlook. Expect the Euro to weaken if the ECB forward guidance appears cautious.

In the meantime, however, the US will publish its consumer price index (CPI) on Wednesday afternoon. This is expected to report that US inflation accelerated rapidly in February, which is likely to bolster expectations that domestic inflation could overheat in the coming months and trigger another upswing in both yields and the US Dollar. Also of note to USD investors in the latter half of the week will be the University of Michigan’s latest consumer sentiment index, where an improvement in confidence this month could help the US Dollar to close the week on a high.

Save money on your EUR/USD currency transfer

How to Save On Your EUR/ USD Currency Transfers

International moves can involve various monetary decisions – from investment in foreign property, to international money transfers and moving savings. Due to the renewed lockdown measures, the exchange rate market is facing significant fluctuations. Securing an exchange rate will protect you from any unfavourable shifts in the currency market. Moreover, conducting currency transfers without charging fees means saving money which could be spent enjoying your new life abroad as an expat.

Start maximising your returns on your EUR/USD money transfer. Among others, remarkable advanteges are:

  • Get a free quote
  • No transfer fees
  • Technology based service to save you time
  • Request a call back quote
  • Maximized returns on your currency transfers
EUR/USD money transfer

All of this is possible by subscribing for free at Ocyan and benefit from all the advantages that our trustworthy partner offers. If you want to read more about TorFX click here.

What Does this Mean for Expats?

If the ECB strikes a dovish tone, we could see the Euro weaken, as a result expats using Euros to purchase USD may get less for their money. However, a stronger US Dollar would be positive for any expats sending money back to Europe.

When you need to move money abroad talk to currency experts TorFX and find out how to make your money go further. Click here to get a free quote or to access their online trading platform to view live rates register here.

USD/EUR currency transfers

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