ZCZC
BCN-26
US-FOREX
U.S. dollar declines as euro continue to rise
NEW YORK, June 8, 2018 (BSS/Xinhua) – The U.S. dollar continued to decline
on Thursday as euro kept rising for a fourth straight session following news
that the European Central Bank (ECB) would wind down its monetary stimulus
later this year.
ECB chief economist Peter Praet said on Wednesday the central bank would
debate whether to unwind bond purchases gradually in the upcoming June 14
policy meeting, according to Reuters.
His words were echoed by several other ECB officials. Klaas Knot, the
president of Dutch central bank, said there was no reason to continue a
quantitative easing program. Jens Weidmann, the head of Germany’s central
bank, also said that expectations the ECB would taper its bond-buying program
by the end of this year were plausible.
The shared currency rose 0.25 percent against the dollar in late trading,
on track to post its largest weekly gain versus the dollar since mid-
February. The dollar index, which measures the greenback against six major
peers, fell 0.22 percent at 93.408 in late trading.
In late New York trading, the euro increased to 1.1808 dollars from 1.1769
dollars in the previous session, and the British pound increased to 1.3426
dollars from 1.3410 U.S. dollars in the previous session. The Australian
dollar was down to 0.7620 dollar from 0.7663 dollar.
The U.S. dollar bought 109.73 Japanese yen, lower than 110.19 Japanese yen
of the previous session. The U.S. dollar decreased to 0.9803 Swiss franc from
0.9859 Swiss franc, and it rose to 1.2979 Canadian dollars from 1.2950
Canadian dollars.
BSS/XINHUA/HR/1125