The euro fell to its lowest level against the dollar in two weeks after European Central Bank President Mario Draghi on Thursday suggested policy makers might soon expand the central bank’s stimulus measures of economic data weakens.The ECB boss’s dovish comments, made at a news conference Thursday following the central bank’s policy statement, present Draghi as a policy maker ready to expand Europe’s stimulus measures if needed, as China has unsettled global markets.
The euro EURUSD, +0.0270% traded down 0.8% on the day at $1.1129, after earlier falling to its lowest level since Aug. 20 soon after Draghi made his remarks.
In March, the ECB expanded its program of monthly asset purchases to €60 billion in private and public-sector debt. The program is currently slated to run through September 2016.
The dollar USDJPY, -0.57% recently traded up 0.6% on the day at ¥119.93. In other trading, the pound GBPUSD, -0.1245% was down 0.2% to $1.5273.
The WSJ Dollar Index BUXX, -0.04% a measure of the dollar’s strength against a basket of rival currencies, was up 0.3% to 88.78.
Elsewhere, the Brazilian real pushed further into record-low territory for a fifth straight day. The Brazilian currency recently traded at 3.75 to the dollar—just below its all-time low of 3.81 reals USDBRL, -0.0374% to the dollar.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment