Asian Session – Euro strong on bets of no extra ECB stimulus
December 10, 2013 7:51 am
The euro managed to make fresh 5-week highs versus the dollar and 5-year highs versus the yen, on speculation that the ECB will not undertake any fresh stimulus measures for the Eurozone economy.
ECB policymaker Yves Mersch stated that it would be problematic for the ECB to engage in asset purchases like the Fed or the Bank of Japan are currently doing.
The euro gained 0.06% to trade at 1.3745, which is not far from October’s 2-year high of 1.3831.
The euro also gained versus the yen, scaling the 142 yen level as it gained 0.13% to trade at 142.07.
In economic news out of Japan, the business survey index fell to 9.7 during the fourth quarter compared to 15.2 previously whereas the consumer confidence index climbed to 42.5 in November from 41.2 the previous month.
The dollar managed to push higher versus the yen, rising 0.11% to 103.38. Earlier during New York trading, Federal Reserve board member James Bullard said he was in favor of a “small taper” during the December Fed meeting.
Chinese investment and industrial output for November came out in line with expectations, posting strong gains.
The Australian dollar was weak against the US dollar, falling by 0.18% to trade at 0.9096. The National Australia Bank’s business sentiment surveys for November were more or less in line with the readings of the previous month.
The euro managed to make fresh 5-week highs versus the dollar and 5-year highs versus the yen, on speculation that the ECB will not undertake any fresh stimulus measures for the Eurozone economy.
ECB policymaker Yves Mersch stated that it would be problematic for the ECB to engage in asset purchases like the Fed or the Bank of Japan are currently doing.
The euro gained 0.06% to trade at 1.3745, which is not far from October’s 2-year high of 1.3831.
The euro also gained versus the yen, scaling the 142 yen level as it gained 0.13% to trade at 142.07.
In economic news out of Japan, the business survey index fell to 9.7 during the fourth quarter compared to 15.2 previously whereas the consumer confidence index climbed to 42.5 in November from 41.2 the previous month.
The dollar managed to push higher versus the yen, rising 0.11% to 103.38. Earlier during New York trading, Federal Reserve board member James Bullard said he was in favor of a “small taper” during the December Fed meeting.
Chinese investment and industrial output for November came out in line with expectations, posting strong gains.
The Australian dollar was weak against the US dollar, falling by 0.18% to trade at 0.9096. The National Australia Bank’s business sentiment surveys for November were more or less in line with the readings of the previous month.
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