Euro mixed as ECB plays down effect of higher rates
June 4, 2015 5:42 am
The euro paused its surge versus the US dollar, but reached a new five-month peak versus the Japanese yen on Thursday, following European Central Bank President Mario Draghi downplayed the impact of greater market rates and as German yields escalate.
On Wednesday, Draghi said the central bank won’t inject additional stimulus due to increasing yields and the market should get used to periods of higher volatility.
The benchmark 10-year Bund yields hit 34.7%, a magnitude not noticed since October 1998.
The common currency closed at $1.1267 per US dollar. Against the Japanese yen, the shared currency ended at ¥140.31.
It was also bolstered by cautious optimism Greece was not about to default on its debt obligations. Prime Minister Alexis Tsipras said the government was close to sealing a deal with lenders and they could their IMF payment on Friday.
The material has been provided by InstaForex Company – www.instaforex.com
The euro paused its surge versus the US dollar, but reached a new five-month peak versus the Japanese yen on Thursday, following European Central Bank President Mario Draghi downplayed the impact of greater market rates and as German yields escalate.
On Wednesday, Draghi said the central bank won’t inject additional stimulus due to increasing yields and the market should get used to periods of higher volatility.
The benchmark 10-year Bund yields hit 34.7%, a magnitude not noticed since October 1998.
The common currency closed at $1.1267 per US dollar. Against the Japanese yen, the shared currency ended at ¥140.31.
It was also bolstered by cautious optimism Greece was not about to default on its debt obligations. Prime Minister Alexis Tsipras said the government was close to sealing a deal with lenders and they could their IMF payment on Friday.
The material has been provided by InstaForex Company – www.instaforex.com
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