USD Regains Footing as EUR Drops due to Dovish Comments from ECB

The USD was able to reclaim the majority of its losses prior to the inauguration of US president-elect Donald Trump due to an increase in Treasury yields along with a plummeting euro after Draghi stated that there are no concrete signals yet which indicate an actual inflation in the eurozone. The EUR increased slightly in value during the earlier parts of this week after uncertainties that the recent positive outlook for economic data in the EU might have been the catalyst for the ECB to discuss the tapering of the central bank’s asset purchases.