• American focus: the euro rose to a two-month high against the yen

Market news

6 September 2012

American focus: the euro rose to a two-month high against the yen

 

The euro rose to a two-month high against the yen after European Central Bank President Mario Draghi announced the decision of the central bank to launch a new program of redemption of bonds, potentially unlimited in volume to "unload" the tense situation on the debt market. Thus, the head of the European monetary authorities do not back down from its July promise to take all necessary measures to save the euro. ECB's key interest rate was in line with expectations remain the same.

More positive than expected ISM report on the non-manufacturing sector came after an equally positive data on the labor market, and together, these data supported the U.S. dollar against the Japanese yen against decrease the potential for additional Fed easing. Positive U.S. data also came out against the background of Japanese authorities for further easing measures to help the Japanese economy.

The British pound rose against the dollar after the Bank of England today decided to keep unchanged the interest rate and scale asset purchase program. The Monetary Policy Committee of the Bank of England left interest rates at 0.5%, and the size of asset purchase program - at 375 billion pounds, which was in line with the forecasts of most analysts.

The Australian dollar advanced after a government report showed that the unemployment rate unexpectedly fell in August.

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