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USD / KZT - 334.31
EUR / KZT - 355.17
CNY / KZT - 48.44
RUB / KZT - 5.31

Dollar gains as eurozone concerns linger

18 october 2014, 15:31
0
©REUTERS
©REUTERS

 The dollar Friday climbed against other currencies following dovish comments from US and British central bankers and continued concern about the eurozone, AFP reports.

The dollar rose against the euro and yen for a second day running as global financial markets steadied, in part in response to soothing commentary from central bankers.

On Thursday, James Bullard, head of the St Louis branch of the Federal Reserve, suggested the US central bank could extend its bond-buying program rather than winding it down, as had been expected.

Then on Friday, Andrew Haldane, chief economist of the Bank of England, said recent economic weakness implied the need for a "back foot," or slower, approach to raising rates.

Kathleen Brooks, a research director for Europe and Britain at Forex.com, said the dovish commentary, coupled with eurozone uncertainty, could lift the greenback.

"If Eurozone sovereign fears rise once more, loggerheads at the ECB could hurt market sentiment, and European assets in particular," she said.

"This may sound odd, but if Fed members stick to their dovish mantras then it could benefit the US dollar," Brooks said.

"If volatility continues to recede, US Treasury yields may move higher, as the markets breathe a sigh of relief, which may also be dollar positive."

 

2100 GMT Friday Thursday

EUR/USD 1.2759 1.2809

EUR/JPY 136.28 136.19

EUR/CHF 1.2076 1.2072

EUR/GBP 0.7927 0.7959

USD/JPY 106.78 106.33

USD/CHF 0.9450 0.9425

GBP/USD 1.6091 1.6091


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