On Thursday, the euro to dollar exchange rate slightly climbed as US Treasury yields dipped low.
The EUR/USD pair inched up 0.08% to $1.18 after it slipped to consecutive lows since Monday.
Moreover, the euro to dollar exchange rate looks ahead to the scheduled European Central Bank meeting today.
Accordingly, the ECB is expected to claw back its economic stimulus.
Consequently, experts forecasted that the possible move could halt the emergency economic aid placed during the pandemic.
In addition, analysts estimated a decline of $70.91 billion from the previous record of $94.55 billion in the pandemic emergency purchase program.
Furthermore, the European Central Bank’s program is expected to fall later this year and end in March 2022.
Accordingly, the euro currency mixed with its rivals.
The EUR/GBP pair soared 0.13% to $0.86.
Likewise, the EUR/NZD pair climbed 0.11% to $1.67.
Similarly, the EUR/AUD pair inched up 0.15% to $1.61.
Moreover, the EUR/JPY pair edged down 0.02% to $130.18.
Also, the EUR/CHF pair plunged 0.06% to $1.09.
Meanwhile, the US dollar index increased from 0.08% to $92.73.
The greenback rose for the third consecutive day after it edged up 0.52% to $92.51 last Tuesday.
The dollar firmed on a cautious risk mood, as Treasury yields dipped 2.96% from 3.05%.
Then, the USD/CNY pair decreased 0.01% to $6.46 as China recently released its inflation data.
China’s consumer price index declined 0.10% from its previous rate of 0.30%.
Consequently, the August producer price index hiked 9.50% from its last reading of 9.00%.
Meanwhile, the USD/JPY pair plummeted 0.07% to $110.15.
GBP to USD Exchange Rate Up as Euro Hike
Furthermore, the GBP to USD exchange rate increased as the euro to dollar exchange rate slightly climbed.
The GBP exchange rate soared 0.02% to $1.38.
However, the GBP to the USD exchange rate is expected to decline as the Delta variant hardly affected the UK.
Accordingly, concerns rose on the possible slowdown of the economic recovery.
Meanwhile, market participants also eye the possibility of tighter monetary policy.
Moreover, the USD/CAD pair improved 0.06% to $1.27, as the Bank of Canada retained its interest rate at 0.25%.
Also, the USD/MXN pair improved 0.04% to $19.94.
Likewise, the USD/INR pair edged up 0.45% to $73.77.
Consequently, the AUD/USD pair tumbled 0.08% to $0.74.
Then, the USD/CHF pair fell 0.09% to $0.92.
Similarly, the NZD/USD pair declined 0.03% to $0.71.
