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Cautious optimism supports dollar ahead of ECB


Wednesday, 11 September 2019 08:43 WIB

DOLLARCurrency Europound


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Fragile investor confidence supported the dollar and weakened the yen on Wednesday but currency markets kept to tight ranges ahead of series of major central bank meetings over the next week.

Investor focus for now is centred on the European Central Bank’s meeting on Thursday, which is expected to push interest rates even further into negative territory.

The ECB could set the tone for upcoming rate-setting decisions by the U.S. Federal Reserve and the Bank of Japan next week, and for the broader global risk appetite.

Bonds slid overnight and the yen hit 107.65 per dollar, its lowest since Aug. 1.

The euro, which has shed 3% since June, was flat at $1.1047. The dollar was flat against the Australian dollar at $0.6860 and steady on the yen and the New Zealand dollar.

the pound has held on to last week's gains after British parliament passed a law compelling Prime Minister Boris Johnson to seek a delay to the Oct. 31 date for leaving the European Union. Sterling last traded at $1.2353.

Source : Reuters


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