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Labor Day Slows Trading of the Dollar and Euro
The forex trading market slowed down a bit over the Labor Day holiday. In the US, stock markets were closed and there isn’t much economic data to work with, leading the dollar to finish mixed against many of the majors. Gold closed at $1,250 per ounce and crude oil fell slightly to close at $74.06 per barrel.
In Europe, the circumstances were similar, with little economic data to drive currency trades. The EUR/USD pair traded at a low of 1.2867 and a high of 1.2919.
The British pound weakened against both the dollar and the euro, due to worries about slowing economic recovery. Investors are getting anxious to see the results of the central bank meeting set for this week. The GBP/USD pair traded at a low of 1.5344 and a high of 1.5489.
The Japanese yen increased against the dollar, which hit a two-day low. The USD/JPY traded with a low of 84.04 and a high of 84.49.
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