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Published on 12/01/2018 11:11:52 AM | Source: IIFL Ltd

Euro rebounded from the lows after minutes of the recent ECB policy - IIFL

Posted in Currency Report| #IIFL #Currency Tips

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Euro rebounded from the lows after minutes of the recent ECB policy meeting revealed a hawkish tone, with indications that the central bank is contemplating at ending the asset purchase programme this year. Meanwhile, China rejected reports that it is planning to diversify it`s holding in US treasuries. This was quite expected given that there is no real alternative which can compete with the depth and liquidity that the US markets can provide. Meanwhile, US 10yr yields retreated from thehigh of 2.6%, helped by Chinese denial on reserves diversification. The credit markets also derived cues from the fact BOJ maintained the quantum of bond purchases in its recent operations. This comes after BOJ trimmed its purchases last week, triggering expectations that it may turn more restrained in terms of asset purchase.

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