Currencies: The euro continued its decline against the dollar, euro zone concerns
London (awp / afp) – The euro sank against the dollar on Thursday, moving to the lowest in more than 22 months, weighed down by a resurgence of concerns about the economic health of the euro zone, while the greenback benefited from hopes of early monetary tightening in the United States.
By 1300 GMT (1500 CET) , the single European currency was worth 1.2724 dollars, against 1.2781 dollars around 2100 GMT Wednesday. Thursday at 8:05 GMT, the euro fell to 1.2697 dollars, its lowest level since mid-November 2012.
The euro fell against the yen also at 138.94 yen against 139 37 yen late Wednesday.
The dollar rose against the Japanese currency to 109.21 yen against 109.04 yen yesterday.
“The juxtaposition of the announcement of new disappointing numbers in the euro area and conversely the surprise property indicator in the United States has unsurprisingly pushed the euro below the threshold of $ 1.28 “Wednesday, analysts explained the Australian National Bank.
So “strong dollar has been the subject of continuous session Wednesday,” noted Simon Smith, analyst at FxPro.
This trend continued Thursday, bringing gains of dollar to “11 consecutive weeks, which has not been seen since the introduction of floating exchange rates in the early 1970s,” stressed Mr. Smith.
For the analyst, this movement s explained by a “change of momentum in the foreign exchange market, as the dollar begins resolutely be seen not as a funding currency but as an active” in which to invest.
The euro remained and sealed by a wave of disappointing indicators in the euro zone, including Germany (Europe’s largest economy and growth engine in the region), which fueled speculation about a new relaxed monetary policy of the European Central Bank (ECB ) after its meeting next Thursday.
In addition, recent comments from President Mario Draghi monetary institution were interpreted by traders as an expression of the will of the Central Bank implement new measures to support the economy, including a program of asset purchases.
“The divergence of monetary policy between the Federal Reserve (Fed) and the European Central Bank ( ECB) becomes very obvious “, so fell Jameel Ahmad, an analyst at FXTM.
While the ECB could launch asset purchases,” the Fed will stop QE in less a month, which should be seen as a major step towards normalization of monetary policy, “noted Mr. Ahmad.
The greenback and continued his side to regain strength, benefiting in more since the publication Wednesday of the United States a strong indicator in real estate.
Thursday, the dollar was helped by the announcement of a lower than expected weekly enrollment increase allocations unemployment last week.
The United States Department of Labor has identified 293’000 filing unemployment claims for the week ended Sept. 20, while analysts were more pessimistic.
“This figure is slightly lower than expected and keeps the downward trend adopted (by jobless) since 2009, reinforcing the idea that the employment report for September expected this week next should show a rebound in employment “in the world’s largest economy, commented James Knightley, analyst at ING.
Investors now awaiting the release Friday of the final figures for gross domestic product (GDP) in the United UNite for the second quarter, they décortiqueront for clues on the timing and magnitude of a possible rise in interest rates early in the country.
By 1300 GMT, the British pound rose against the euro at 77.94 pence per euro after reaching 77.90 pence at 8:05 GMT, its highest level since late July 2012 The British currency fell against the dollar at 1.6325 dollar for a pound.
The Swiss currency rose against the single European currency, 1.2074 francs per euro but fell against the dollar at 0.9490 francs to the dollar, after reaching 8:05 GMT franc to 0.9515, its weakest level since mid-July 2013.
The Chinese currency finished at 6.1365 yuan to the dollar, against 6.1342 yuan yesterday.
The ounce of gold finished at $ 1,210.50 at auction morning against USD 1,217.25 on Wednesday night. Around 7:10 GMT, gold slipped to 1206.83 dollars an ounce, its lowest level since January 2, 2014.
Classes Thursday Course Wednesday
1300 GMT 2100 GMT
EUR / USD 1.2724 1.2781
EUR / JPY 138.94 139.37
EUR / CHF 1.2074 1.2083
EUR / GBP 0.7794 0.7820
USD / JPY 109.21 109.04
USD / CHF 0.9490 0.9453
GBP / USD 1.6325 1.6342
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