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The euro has risen against the dollar Wednesday, briefly climbing above $ 1.45, but its progress has slowed after egrave & ...
The euro has risen against the dollar Wednesday, briefly climbing above $ 1.45, but its progress has slowed after a U.S. inflation indicator stronger than expected, in a hesitant market after a meeting between France and German crisis.
Around 2100 GMT (2300 Paris), the euro bought 1.4428 dollars against 1.4406 dollars on Tuesday at 2100 GMT.
The euro fell against the yen at 110.45 yen against 110.61 yen late Tuesday.
The dollar retreated against the Japanese currency to 76.54 yen against 76.75 yen on Tuesday.
Under pressure from troubled markets, German Chancellor Angela Merkel and French President Nicolas Sarkozy Tuesday posted a total unit to offer a range of measures, including economic governance of the euro area, and a tax on financial transactions.
"It's probably a little more positive than some expected with some plans announced, even if they are still very preliminary decisions," noted Charles St-Arnaud, Nomura.
The market was still strong disappointment Tuesday just after the announcement, punishing the euro.
"If the two leaders got down to one of the main points of weakness in the monetary union with the idea of an economic government for the euro area," suggested Commerzbank analysts, "the proposal n ' is not enough detail to establish to what extent it is different from a usual top of the European Union (EU) ".
The main complaint of the market attached to the refusal of Eurobonds, Angela Merkel was deemed "not useful" at this stage of the crisis.
"We did not expect to advertisements on the side of European bonds. The first step is much greater fiscal coordination before arriving at this solution," Charles St-Arnaud temperate, while the euro rebounded a bit.
Overall, "global markets may be more stable than last week, but the tone remains fragile," noted analysts at Brown Brothers Harriman.
The euro has slowed his progress after the announcement of an unexpected rise in producer prices in the U.S. in July.
Moreover, uncertainty remained high enough market to continue to lead a large influx of investors to safe havens such as the yen, Swiss franc and gold.
Indeed, the yen remained near its highest level since World War II against the dollar, recorded March 17 at 76.25 yen to the dollar.
For its part, the Swiss National Bank (SNB) decided Wednesday to step up measures to counter the strong Swiss franc.
Traders, however, seemed disappointed by these measures, and the Swiss franc could continue to be supported as a new tougher measures will not be taken as a possible interim tie of the franc to the euro, said Valentin Marinov, an analyst at CitiFX.
By 2100 GMT, the Swiss franc rose against the euro at 1.1400 Swiss francs, as against the dollar at 0.7897 francs.
The British pound rose against the euro at 87.19 pence, as against the dollar at 1.6545 dollar, despite rising unemployment in the UK over the three months ended in June, and the unanimous vote surprise on maintaining the rate of the Bank of England (BoE) to 0.5% in August. Against the dollar, the British currency returned to levels seen since early May.
The Chinese currency finished at 6.3872 yuan against one dollar for 6.3825 yuan yesterday.
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