Rio Tinto announced it had reached a financing plan with
Turquoise Hill Resources for the Oyu Tolgoi copper mine in Mongolia; meanwhile, the United States International Trade Commission (USITC) made a countervailing duty ruling on chassis and subassemblies from China; and, lastly, China’s National Bureau of Statistics released Producer Price Index (PPI) figures for the industrial sector in March.
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Rio Tinto reaches financing deal for Oyu Tolgoi
Miner Rio Tinto announced it had reached a financing deal with Turquoise Hill Resources for the Oyu Tolgoi copper miner project.
4/9/2021 5:39:15 AM GMT
Sustained USD selling pushed EUR/USD to over two-week tops on Thursday.
Dovish Fed comments, sliding US bond yields continued undermining the buck.
A cautious mood kept a lid on any further gains for the major, at least for now.
The EUR/USD pair caught some fresh bids on Thursday and prolonged this week s positive momentum further beyond the very important 200-day SMA. The US dollar added to its weekly losses amid a stubbornly dovish Fed, which, in turn, was seen as a key factor driving the pair higher. The latest FOMC meeting minutes released on Wednesday revealed that policymakers remained cautious about the continuing risks stemming from the pandemic. The Fed reiterated its commitment to extending monetary policy support until the recovery was more secure.