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EUR/USD update (17th July 2012, 13:00)

The euro advanced 0.2% to $1.2296 against the US dollar this morning amid speculation that Federal Reserve chairman Ben Bernanke will provide clues on whether the central bank will introduce additional monetary easing. 

Gains in the euro were limited however, ahead of key German and European ZEW confidence surveys.

The US dollar declined against most major currencies today after an unexpected decline in retail sales data yesterday revived the spectre of QE3. Investors are hoping that Ben Bernanke will provide conclusive hints of additional monetary stimulus to revive the slowing economy, when he delivers his semi-annual report on the economy to the Senate Banking Committee later today. 

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EUR/USD update (17th July 2012, 13:00)

The euro advanced 0.2% to $1.2296 against the US dollar this morning amid speculation that Federal Reserve chairman Ben Bernanke will provide clues on whether the central bank will introduce additional monetary easing. 

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