Wall Street Hedge

Monday, January 18, 2021
Log in
  • Home
  • Nation & Politics
  • Financial News
  • Technology & Research
  • Lifestyle & Health
    • Latest News
      • Business
      • Nature
      • Science
      • World
      • VA Hospitals Are Still Under Investigation for Suspected Drug Thefts

USD hits highs against euro since 2010

By Leave a Comment

us-dollars

The US dollar on Friday hit to its highest against the euro in 4-1/2 years since 2010 and reached parity with the Swiss franc following strong indication from the European Central Bank (ECB) that it is soon going to take an aggressive action to stimulate the Euro Zone economy, just as the US Federal Reserve Bank is reapplying its stimulus.

The European currency fell to USD 1.2002, its lowest level since June 2010, after European Central Bank President Mario Draghi made the statement that the ECB was unlikely to preserve the price stability as it was six months ago. This indicated that the European Central Bank has geared up to take bolder steps on its monetary stimulus to the ailing Euro Zone early this year.

David Rodriguez, a quantitative strategist at DailyFX.com, said, “Markets as well as the analysts have been talking about this for ages, but to hear it from the horse’s mouth has had a clear effect on the European currency.”

DailyFX.com is a unit of FX broker FXCM in New York.

Euro, which is single currency in Euro Zone, also received setback by the depressing euro zone manufacturing data. The dollar index touched a fresh about nine-year high of 91.131 and slashed its third consecutive weekly gain.

The dollar index provides a measurement of the greenback against a basket of six major currencies.

The divergence between the Fed’s path toward rate hike and looser monetary policies in Europe and Japan encouraged the dollar in 2014. Several analysts anticipated that the contrast in policy to fuel a continued dollar rally this year.

For the first time in more than four years, the US dollar hit parity with the Swiss franc. Draghi’s remarks further imposed pressure on the central bank of Switzerland to ease further for maintaining a 1.20-franc-per-euro limit, according to Alan Ruskin, global head of currency strategy at Deutsche Bank, New York.

While the euro was last down 0.82 percent against the US dollar at USD 1.2003, the American currency was last up 0.7 percent against the Swiss franc at 1 franc. The dollar gained 0.58 percent against the yen at 120.46 yen.

The benchmark S&P 500 stock index was mostly flat at ending trade at the Wall Street.

 

Share this:

  • Tweet
  • Share on Tumblr

Filed Under: Financial News Tagged With: Dollar Vs Euro, Euro, Euro Zone, European Central Bank President, Federal Reserve, Mario Draghi, Swiss Franc, US dollar

Leave a Reply Cancel reply

You must be logged in to post a comment.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 15 other subscribers

Recent Articles

AXA building in Wiesbaden, Germany.

Insurer AXA To Buy XL Group For $15 Billion

By Leave a Comment

New York Stock Exchange on Wall Street.

Wall Street Comes Out Intact As Global Stock Rise

By Leave a Comment

Ryanair profits are up despite threats of pilot strike.

Ryanair Profits Are Up But A New Pilot Strike May Be Around The Corner

By Leave a Comment

Bitcoin bubble may burst, analysts speculate.

Bitcoin Bubble Shows Signs Of Bursting

By Leave a Comment

One percent amassed 82 percent of the world's fortune last year.

82 Percent Of The World’s Wealth Went To The One Percent In 2017, According To Oxfam Report (Report)

By Leave a Comment

Morgan Stanley will be hit with a $1.25 billion charge as part of the new Republican tax cut.

Morgan Stanley To Be Hit With $1.25 Billion Charge From Republican Tax Reform

By Leave a Comment

General Electric Laboratory

High Demand For Renewable Forces General Electric To Slash 12 Thousand Jobs Worldwide

By Leave a Comment

Cryptocurrency bitcoin coins

Cryptocurrency Is Worth More Than JPMorgan, Bitcoin Raises Concerns

By Leave a Comment

Computer circuit board

Chipmaker Company, Marvell Technology, to Buy its Rival Cavium in $6 billion Deal

By Leave a Comment

Thanksgiving dinner

Thanksgiving Dinner Will Cost Less This Year as Food Gets Cheaper

By Leave a Comment

Doctors in surgery

Vermont Is Preparing New Health Care System

By Leave a Comment

Saudi Arabia’s capital city Riyadh

Saudi Arabia Has Just Bought Huge Stake in Uber

By Leave a Comment

No Agreement Yet on the Trans-Pacific Partnership

By Leave a Comment

Samsung Shareholders Approve Deal Which Sees Lee Family Gain More Control

By Leave a Comment

Related Articles

  • AXA building in Wiesbaden, Germany.

    Insurer AXA To Buy XL Group For $15 Billion

  • New York Stock Exchange on Wall Street.

    Wall Street Comes Out Intact As Global Stock Rise

  • Ryanair profits are up despite threats of pilot strike.

    Ryanair Profits Are Up But A New Pilot Strike May Be Around The Corner

  • Bitcoin bubble may burst, analysts speculate.

    Bitcoin Bubble Shows Signs Of Bursting

  • One percent amassed 82 percent of the world's fortune last year.

    82 Percent Of The World’s Wealth Went To The One Percent In 2017, According To Oxfam Report (Report)

  • Morgan Stanley will be hit with a $1.25 billion charge as part of the new Republican tax cut.

    Morgan Stanley To Be Hit With $1.25 Billion Charge From Republican Tax Reform

  • General Electric Laboratory

    High Demand For Renewable Forces General Electric To Slash 12 Thousand Jobs Worldwide

  • Cryptocurrency bitcoin coins

    Cryptocurrency Is Worth More Than JPMorgan, Bitcoin Raises Concerns

  • Computer circuit board

    Chipmaker Company, Marvell Technology, to Buy its Rival Cavium in $6 billion Deal

  • Thanksgiving dinner

    Thanksgiving Dinner Will Cost Less This Year as Food Gets Cheaper

Categories

  • Business
  • Entertainment
  • Financial News
  • Lifestyle & Health
  • Nation & Politics
  • National News
  • Nature
  • Science
  • Technology & Research
  • World

Copyright © 2021 WallStreetHedge.com

About · Privacy Policy · Terms of Use · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.