The rally between the euro and the dollar reached a two-month low level as the European Central Bank is ready to announce the interest-rate decision after Mario Draghi stated that the crisis has started to affect Germany. Euro was the single currency weakened versus all of the 16 counterparts after Market News International declared that the ECB is unwilling to purchase the government bonds after a decline in the lending costs. The yen improved its position due to the fact that investors sought assets among the re-elected president Obama is trying to prevent the fiscal cliff. Also, the British pound rose against the euro currency as the Bank of England restrained to elevate the asset-purchase program.
Euro dropped 0.3% to $1.2734 reaching the lowest level since the 7th of September. Lee Hardman, the currency strategist at the Bank of Tokyo declared that the following: Draghi’s comments may have encouraged speculation that the ECB may present a more dovish Read more »