Gained sharply last week as tensions rose between the United States and North Korea, another severe hurricane hit the United States, and the Fed’s vice chairman Stanley Fischer resigned; while the ECB left interest rates unchanged. The rate began the week gaining a fraction after North Korea conducted its sixth nuclear test on Sunday using a significantly more advanced missile than in previous tests, thereby escalating tensions with the United States. Also, Spanish Unemployment Change increased by 46.4K versus an expected 16.3K. The pair then made its weekly low of 1.1867 on Tuesday after FOMC member Lael Brainerd said that U.S. inflation levels were “far short” and that, “We should be cautious about tightening policy further until we are confident inflation is on track to achieve our target”. Tuesday’s data had U.S. Factory Orders decline by -3.3% m/m, which was in line with expectations. The rate consolidated at a slightly higher level on Wednesday after news that Fed vice-chair Stanley Fischer had resigned and after U.S. ISM Non-Manufacturing PMI printed at 55.3 versus an expectation of 55.8. Also, the U.S. Trade Balance showed a deficit of -43.7B compared to -44.6B anticipated. The pair then declined sharply on Thursday after the ECB left its benchmark Minimum Bid Rate unchanged at 0.00%. In his Introductory Statement to the Press Conference, ECB President Mario Draghi noted that, “The economic expansion, which accelerated more than expected in the first half of 2017, continues to be solid and broad-based across countries and sectors. At the same time, the recent volatility in the exchange rate represents a source of uncertainty which requires monitoring with regard to its possible implications for the medium-term outlook for price stability.” Also on Thursday, U.S. Initial Jobless Claims jumped to 298K from 236K, compared to an expectation of 245K, which was in large part due to the effects of the recent hurricane in Texas. The rate then consolidated after making its weekly high of 1.2091 on Friday as President Trump signed legislation removing the debt ceiling, keeping the government in business until December 8th. EUR/USD closed at 1.2032, with an overall increase of +1.5% for the week.