Euro falls below 1.2 against dollar
2017-09-11 16:47:28 GMT (Economies.com)
Euro falls below 1.2 against dollar

Euro fell in American trade away from the highest since January 2, 2015 versus the dollar, following earlier data from Italy, the euro zone's third largest economy, and amid a lack thereof from America. 

 

As of 04:26 GMT, EUR/USD shed 0.44% to 1.1983 from the opening of 1.2036, which is also an intraday high, with a low at 1.1972. 

 

Earlier Italian data showed industrial production slowed down sharply to 0.1% in July from 1.1% in June, while still besting expectations of a 0.5% drop. 

 

Earlier statements from European Central Bank officials asserted the start of altering the bank's monetary policy in a very gradual way, as the ECB holds many tools and is ready to act if needed. 

 

Other remarks also stated that extending the easing policies for a long period of time hurts its effectiveness, as others asserted the importance of stopping the expansionary policies in a plain and gradual way, as overall conditions point to steady inflation gains.  

 

Last week, ehe European Central Bank voted to keep its Minimum Bid Rate unchanged at zero percent, and deposit rates at minus 0.40%, before president Mario Draghi said the bank will carry on its ultra easing buying program of 60 billion euros a month until the end of 2017, and extending it beyond that if needed. 

 
 
 
  Symbol Last Change Chg.%
1.1844
-0.0061
0.5162%
1.3469
-0.0019
0.1398%
17.113
0.127
0.748%
52.155
1.510
2.982%
59.03
2.17
3.82%
1308.345
11.500
0.887%
 
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