The euro fell Friday to its lowest level in nearly a year against the dollar after a speech by the president of the Federal Reserve Janet Yellen raising the possibility of an increase in expected rate in the United States.
By 2100 GMT (2300 in Paris), the single European currency was worth 1.3241 dollars against 1.3281 dollars on Thursday at the same time. Around 1500 GMT, the euro fell to its lowest level since September 9, 2013, to 1.3221 dollar.
The euro also fell against the Japanese currency to 137.60 yen against 137.92 yen Thursday.
The dollar was stable against the Japanese currency to 103.87 yen against 103.85 yen yesterday. Around 1440 GMT, the dollar rose to 104.19 yen, its highest level since 23 January 2014
In a highly anticipated conference in Jackson Hole (Wyoming, West Central States Speech UNite) Janet Yellen said that the American job market was not “fully recovered” but warned that if progress is accelerated, rising fastest intervene.
“This vague, yet very important point” on the fact that rates “could go back now anticipated earlier by the market, especially if the labor market is starting to improve more quickly,” pushed the dollar, according to Christopher Vecchio of DailyFX.
The Fed boss “of course insisted that the American economy was not yet fully developed to be able to justify tightening of monetary policy, “noted the expert. “That said, it was very clear that the very cautious stance of the Fed begins to fade. (Janet Yellen) itself noted that the institution was close to achieving its goals.”
Yellen’s speech thus appeared “as a confirmation, not a contradiction of minutes” of the monetary policy committee of the Fed (FOMC) released Wednesday, said Jasper Lawler, an analyst at CMC Markets.
According to Count report, some FOMC members are “less consistent with the monetary stance message” which provides cheap rates “for a considerable period of time.”
A rise in rates would make the more profitable and therefore more attractive to investors dollar, which explains why a prospect of early rising support the greenback.
The intervention of the President of the European Central Bank Mario Draghi at the same podium caused no specific movement.
He said Friday was “confident” about the effectiveness of the measures announced in early June by the institution to boost the economy at half the euro area, while ensuring that the BCA stood “ready to further adjust the position of (his) politics.”
After a series of disappointing economic indicators in the eurozone, many investors expect the ECB to put in place new measures to fight against anemia growth and deflationary pressures in region. Such measures would weigh on the value of the single European currency.
By 2100 GMT, the British pound rose against the euro at 79.92 pence per euro and fell against the greenback at 1 , 6565 dollar for a pound.
The Swiss currency rose slightly against the single European currency to 1.2098 Swiss francs to the euro but fell against the dollar at 0.9137 Swiss francs to the dollar. Around 2:50 p.m. GMT, the Swiss currency fell to 0.9154 Swiss francs to the dollar, its lowest level since 21 January 2014
The Chinese currency finished his side to 6 1528 yuan to the dollar, against 6.1520 yuan yesterday.
The ounce of gold closed at $ 1,277.25 at auction tonight against 1275.25 dollars Thursday.
Classes Friday Course Thursday
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2100 GMT 2100 GMT
EUR / USD 1.3241 1.3281 EUR / JPY 137.60 137.92 EUR / CHF 1.2098 1.2106 EUR / GBP 0.7992 0.8010 USD / JPY 103.87 103.85 USD / CHF 0.9137 0.9115 GBP / USD 1.6565 1.6580
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