Currencies: the euro down against the dollar after stiffening of the ECB on Greece
New York (awp / afp) – The euro accentuated its decline against the dollar Wednesday after the decision of the Bank European Central Bank (ECB) to deprive Greece of a funding channel, when the new leaders of the country trying to get a debt relief.
By 2200 GMT (2300 CET), the single European currency was worth 1.1334 dollar against 1.1479 dollar on Tuesday at the same time.
The European currency also lost much ground against the yen at 132.81 yen against 134.96 yen Tuesday evening .
The dollar fell him a little against the Japanese currency at 117.18 yen against 117.57 yen yesterday.
The decline in the single currency accelerated to 9:30 p.m. GMT after the announcement by the ECB suspension of preferential treatment that previously enjoyed Greek banks.
Before the release of the Frankfurt institution, which considers “that it is not possible at present to anticipate a positive outcome “of the international aid program which Athens has, the euro was trading around 1.1423 dollar.
” In the context of negotiations between Greece and its creditors, it is a new source of concern, “admitted Vasily Serebryakov, BNP Paribas.
The ECB announced its decision, while the new government Greek, dominated by the radical left Syriza continues his European tour to try to convince of the need to reduce the burden of the huge debt of the country.
Before his release, the ECB had asked the Greek government to “negotiate quickly and constructively” to ensure “financial stability” of the country, following a meeting in Frankfurt between Finance Minister Yanis Varoufakis, and Mario Draghi, president of the institution.
The effects of the decision of the ECB could be “limited market” tempered Vasily Serebryakov. “In a sense, it’s just a technical change in the way the ECB supports the Greek financial system.”
Yanis Varoufakis should now see Wolfgang Schäuble, his German counterpart on Thursday in Berlin, while the Greek Prime Minister, Alexis Tsipras, went through Brussels on Wednesday before meeting with French President Francois Hollande in Paris.
The International Monetary Fund (IMF), another creditor of Athens with the Union European (EU), for his part said that he had no “discussion” on a renegotiation of the debt, in response to statements from Greece to the IMF proposing an exchange of securities.
“There still has a long way to go to cement a deal on Greece and probably will he still be trouble on the markets, “had already warned traders of National Australia Bank, prior to release of the ECB.
In the US, the dollar “is recovering from a rather excessive decline earlier in the week that followed the disappointing figures,” including on US growth in the last quarter, noted Omer Esiner of Commonwealth Foreign Exchange.
“Today, new statistics have helped the dollar to recover, as a better index than expected activity in services”, which experienced an unexpected increase in January according to professional association ISM, he added.
Traders seek primarily to position the day before the official monthly report on employment and unemployment in the United States.
For now, the market treats mixed figure firm ADP, which reported that the private sector had created fewer jobs than expected in January, but has revised up its figure for December.
By 2200 GMT, the British pound rose sharply against the European single currency at 74.65 pence per euro, and to a lesser extent against the dollar at 1.5182 dollar for a book.
The Swiss franc rose also against the euro at 1.0502 Swiss francs to the euro but fell against the greenback at 0.9267 Swiss francs to the dollar.
Chinese currency finished at 6.2481 yuan to the dollar, against 6.2582 yuan yesterday.
The ounce of gold finished at 1268.50 dollars at the evening auction, against 1264.25 dollars Tuesday.
Wednesday Course Tuesday Course
2200 GMT 2200 GMT
EUR / USD 1.1334 1.1479
EUR / JPY 132.81 134.96
EUR / CHF 1.0502 1.0611
EUR / GBP 0.7465 0.7571
USD / JPY 117.18 117.57
USD / CHF 0.9267 0.9244
GBP / USD 1.5182 1.5162
afp / rp
(AWP / 02/05/2015 6:21)
(AWP / 05/02/2015 6:21) ^ ->
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