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Published on 10/01/2018 12:53:24 PM | Source: IIFL Ltd

US dollar extended the recovery against Euro, with the latter losing ground - IIFL

Posted in Currency Report| #IIFL #Currency Tips

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US dollar extended the recovery against Euro, with the latter losing ground in wake of concerns over Italian general elections due in March this year. Rising popularity of Eurosceptic and anti-establishment party Five Stat Movement can stoke apprehensions regarding Europe as an integrated continent. Meanwhile, Yen strengthened after Bank of Japan trimmed its purchases of long-dated government bonds in market operations, giving birth to speculation the central bank may start tapering its stimulus this year. However, experts reckon that this move is not an indication of its future policy, as BOJ has intervened in its bond operations on several occasions, in line with the yield-curve-control policy adopted in 2016. In China, PBOC is considering changes to the calculation method in the yuan`s daily refernce rate against USD, a move that`s likely to reduce exchange-rate volatility.

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