Tuesday, 1 August 2017

In The Currency Market, The Euro Traded At USD 1.1824

In the currency market, the euro traded at USD 1.1824, having risen to as high as USD 1.1846, its best level since January 2015, with a test of USD 1.20 within sight.

It has gained almost 15 percent from its January 3 low of USD 1.0340, which was its weakest level since January 2003, on rising expectations that the European Central Bank will taper its stimulus next year.

The dollar also slipped to a 1-1/2-month low of 110.21 yen, and last stood at 110.32 yen.

The Australian dollar held steady at USD 0.8000 ahead of the Reserve Bank of Australia's policy announcement later in the day. The RBA is widely expected to keep interest rates on hold.

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