|01-05-2015, 11:13 PM||#1|
Euro hits lowest since 2006 vs U.S. dollar on ECB stimulus bets
The euro hit its lowest in nine years versus the U.S. dollar on Monday morning as the European Central Bank (ECB) hinted more divergence in monetary policy with the U.S., which raised bets of further declines for the euro.
The euro also faced some pressure from Greece as the new election campaign is weighing into a victory by an anti-austerity party.
The euro started retreating late last week after ECB President Mario Draghi gave a clear signal that the central bank will launch quantitative easing.
The euro fell to as much as $1.1866 in early Asian trading, the lowest level since March 2006. The single currency last traded at $1.1944, down 0.9%. As of 07:00 GMT
The euro’s fall was exacerbated after the $1.20 threshold was breached.
The euro also fell 0.45% against the yen to 143.84 yen.
In an interview with German newspaper Handelsblatt published January 2, Draghi said the ECB is at more risks to preserve prices stability than it was six months ago, indicating the bank was ready to make audacious measures on monetary stimulus this year to boost the Eurozone economy and fight off deflation.
The euro has fallen nearly 12% against the U.S. dollar in 2014, with the ECB headed in the opposite direction of the Federal Reserve that is poised to increase rates this year in the wake of a strong economic recovery.
Data by the IMF showed last Friday that holdings of currency reserves in the euro fell to the lowest level in a decade in the third quarter of 2014.
Investors will keep an eye on inflation data for Germany on Monday and the Eurozone on Wednesday for clues that could back the view of the ECB.
|مواقع النشر (المفضلة)|
|الذين يشاهدون محتوى الموضوع الآن : 1 ( الأعضاء 0 والزوار 1)|
|أدوات الموضوع||إبحث في الموضوع|
|انواع عرض الموضوع|
|الموضوع||كاتب الموضوع||المنتدى||مشاركات||آخر مشاركة|
|Euro retreats against the dollar after PMI data||Hazem Ahlawy||Forex News||0||11-22-2014 05:48 PM|
|Euro retreats against the dollar after PMI data||Hazem Ahlawy||Forex News||0||11-20-2014 06:01 PM|
|Euro hits 1-week low ahead of economic data||Hazem Ahlawy||Forex News||0||10-22-2014 09:43 PM|
|Dollar hits 14-month high against yen, euro rebounds||Hazem Ahlawy||Forex News||0||09-10-2014 06:24 PM|
|Gold hits three-month low as dollar builds up||Hazem Ahlawy||Gold, Silver & Oil||0||09-03-2014 05:18 AM|