Arab Today, arab today dollar clings to gains after fed
Last Updated : GMT 03:13:39
Arab Today, arab today
Arab Today, arab today

Dollar clings to gains after fed

Arab Today, arab today

Arab Today, arab today Dollar clings to gains after fed

Singapore - Arabstoday

The dollar held onto gains against major currencies made after the Federal Reserve refrained from offering new stimulus, leaving global investors focused on a European Central Bank meeting later on Thursday for any action that could revive their appetite for risk. There has been speculation that the ECB could reactivate its bond buying programme in order to bring down borrowing costs for Italy and Spain to head off a brewing debt crisis. The Fed’s inaction was largely expected. The dollar had climbed on Wednesday even as the Fed kept the door ajar for further bond-buying to help spur a sluggish economic recovery, a move that would cement the dollar’s status as a funding currency of choice for carry trades. Markets are anxiously waiting to see if ECB President Mario Draghi will back up his vow to do whatever it takes to protect the euro with serious action. “It’s really difficult to see how they are going to live up to the market’s expectations,” said Mitul Kotecha, head of global foreign exchange strategy for Credit Agricole in Hong Kong. Resistance from Germany’s powerful Bundesbank has cast doubt on whether the ECB will reactivate its bond-buying programme, and even if they do, it is unclear whether such bond buying would begin immediately. The euro edged up 0.2 percent to $1.2247, but remained well below Wednesday’s high of $1.2337. The dollar held steady against the yen at 78.46 yen, staying above a two-month low of 77.90 yen hit on trading platform EBS on Wednesday. The dollar index, which tracks the dollar’s value against a basket of major currencies stood at 83.026, having hit a one-week high of 83.169 earlier on Thursday. ECB A Munich-based daily said Draghi is planning concerted action using both the ECB and the future euro European Stability Mechanism (ESM) to purchase sovereign debt from Spain or Italy in order to help push down borrowing rates for those two countries. The newspaper added, however, that a final decision is not expected until after Sept. 12, after the German Constitutional Court rules on the ESM. Analysts at Barclays Capital expect the ECB to disappoint markets. “The most likely outcome is that the ECB will not announce any significant policy change,” analyst Guillermo Felices wrote in a client note. “Rather, we think it likely that President Draghi’s statement will signal that they are ready to act, using a range of tools at their disposal, if conditions deemed it necessary,” Felices said, adding concrete measures are more likely at the September meeting. Strong action by the ECB would give high-beta currencies like the Australian dollar, relatively volatile currencies that are sensitive to shifts in broader market sentiment, a new lease on life. The Australian dollar rose 0.2 percent to $1.0479, getting a slight lift after data showed Australian retail sales rose a surprisingly strong 1.0 percent in June, suggesting no urgent need for further policy easing by Australia’s central bank.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar clings to gains after fed Arab Today, arab today dollar clings to gains after fed

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar clings to gains after fed Arab Today, arab today dollar clings to gains after fed

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday