Arab Today, arab today euro drops against dollar as riskappetite wanes
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Euro drops against dollar as risk-appetite wanes

Arab Today, arab today

Arab Today, arab today Euro drops against dollar as risk-appetite wanes

London - AFP

The euro dropped against the dollar on Tuesday as risk appetite eased amid renewed concerns surrounding the Greek debt crisis and the possibility that China will raise its key interest rate, analysts said. In London deals, the European single currency fell to $1.4474 from $1.4539 late in New York on Monday. Against the yen, the dollar gained to 81.11 yen from 80.80 yen. \"After yesterday\'s quiet trading session caused by the US\'s 4th July holiday, investors have come back in today and decided to keep away from risky assets,\" said Kathleen Brooks, research director at trading group Forex.com. \"This may be a delayed reaction to yesterday\'s news from rating agency Standard and Poor\'s that the current plan being hashed out between eurozone authorities and banks over a voluntary rollover of Greek bond holdings would constitute a default.\" S&P said on Monday that recent proposals for a new Greek bailout, under which private sector banks would rollover their exposure, would be tantamount to a partial debt default, the very outcome officials are trying to avoid. There is concern that a default could spread domino effects across the eurozone and the global financial system. The market was meanwhile digesting comments made on Monday by The People\'s Bank of China, which said that inflationary pressures \"are still high\" while the economy continues to grow at a steady and relatively fast pace. Two local papers on Tuesday interpreted the PBoC statement to mean that a hike in interest rates could be imminent. The greenback was meanwhile also buoyed by speculation of increased fund inflows back to the United States, dealers said, following a report about a corporate tax holiday on the foreign profits of US firms. Bloomberg said a reduction in income tax on repatriated profits being debated by Congress could lead to as much as $700 billion in flows back to the United States. \"The dollar was broadly bought against other major currencies in the wake of a the report,\" Tomohiro Ishikawa, dealer at Chuo Mitsui Trust and Banking, told AFP. The US market was closed Monday for the July 4 Independence Day holiday. In London on Tuesday, the euro changed hands at $1.4474 against $1.4539 on Monday, at 117.41 yen (117.48), £0.9008 (0.9040) and 1.2222 Swiss francs (1.2329). The dollar stood at 81.11 yen (80.80) and 0.8444 Swiss francs (0.8400). The pound was at $1.6068 (1.6083). On the London Bullion Market, gold prices climbed to $1,496.95 an ounce from $1,495 on Monday.

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 euro drops against dollar as riskappetite wanes Arab Today, arab today euro drops against dollar as riskappetite wanes

 



Arab Today, arab today

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 euro drops against dollar as riskappetite wanes Arab Today, arab today euro drops against dollar as riskappetite wanes

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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