The euro continued its decline on Thursday, after the European Central Bank (ECB) release a bond purchase program several billions of euros which aims revive the ailing economy of the euro area.
The single currency traded to $ s1,136 at the close of trading on Wall Street, its lowest value in eleven years. During January, the single currency by 6.6% against the dollar, while the year earlier, devaluation reached 17 percent devalued. Conversely, the US dollar appreciated 7.1% in January compared to the single currency, which it accumulated a preview of 19.2% from the January 23, 2014.
The ECB President Mario Draghi , said the central bank would print money to buy up 60.000 million euros (u $ s69.000 million) in debt per month in the euro area, where inflation fell into negative territory in December is far below the target issuer of just under 2 percent.
Draghi said inflation is expected to gradually accelerate in 2015 and 2016.
In the past year, the dollar appreciated 19 , 2% against the euro
Meanwhile, Gold reversed losses on Thursday and hit a five-month high on $ 1,300 an ounce . The metal is often seen as a hedge against inflation concerns.
Spot gold, which had fallen to 1% to session lows of $ s1.279,50 earlier trend changed after the Draghi announcement and rose to its highest level since August 15 to u $ s1.306,20 Oz .precious metal rose nearly 10% since the beginning of the month . , underpinned by higher demand for assets considered safer, mostly driven by economic and political uncertainty in the euro area
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