Euro Drops 0.4%, Helps Dollar Growth

The European Single Currency, Euro, on Tuesday, August 15, depreciated by 0.4 percent at $1.1733.

The slump in the Euro helped push the dollar index .DXY, which measures the greenback against a basket of currencies, up 0.4 percent.

The dollar was helped by comments from New York Federal Reserve President William Dudley, who told the Associated Press he would favor a third increase in Fed interest rates this year if the economy developed as he expected.

Meanwhile, the British Pound Sterling depreciated by 0.2 percent to $1.2936, its lowest since July 20, on track to break below a 50-day moving average.

The Swiss franc, which gained 1.1 percent on Aug. 9 as the war of words over the Korean peninsula intensified, fell 0.2 percent to 0.9736 per dollar. This followed a 1.1 percent fall on Monday.

 

 

Leave a Reply