Dollar rises above ¥110.50 in Tokyo on euro weakness

Drama Over?       Italian two-year yields though not back to pre-crisis levels are much lower than in late May

The ECB now plans to reduce monthly asset purchases between October and December to 15 billion euros until the end of 2018 and then conclude the program.

Chinese stocks led the losses, with the benchmark Shanghai Composite index plumbing a 20-month low, as investors anxious about the economic damage from the trade tensions with the United State.

The euro was last down 1.37 percent to $1.1628, while the dollar index, which measures the greenback against six top currencies, rose 0.85 percent.

Our week of central bank announcement continues on Thursday, as the attention now turns to the ECB and Mario Draghi.

The trade moves triggered profit-taking in European stock markets, a day after they benefited handsomely from the ECB s accommodating policy stance.

Higher interest rates typically bolster a currency as it becomes more attractive to hold.

In early trading, the dollar rose above ¥110.60, helped by a tumble of the euro against the greenback after the European Central Bank decided Thursday to keep policy interest rates unchanged at least until the summer of 2019, traders said. The ECB continued to stress in recent meetings that any interest rate hikes, which remain the key to foreign exchange market movements, are a long way off. U.S. President Donald Trump has made a decision to impose "pretty significant" tariffs and will announce a list targeting $50 billion of Chinese goods on Friday, and a second wave of products worth $100 billion has been cued up.

Having reviewed the progress towards a sustained adjustment of the path of inflation, the ECB's Governing Council said it will extend its APP and plans to keep interest rates at current levels.

More news: New disclosure shows Jared and Ivanka growing wealth as presidential advisers

Societe Generale macro strategist Kit Juckes said he foresaw further pain for the euro in the near-term.

In New York, the S&P 500 added 0.3 per cent, while the Dow Jones Industrial Average ended 0.1 per cent lower and the Nasdaq Composite climbed 0.9 per cent.

European shares were set for their best week in more than three months on Friday as investors pushed back expectations for a rate hike after Thursday's European Central Bank policy meeting.

Canada is also contending with new USA tariffs on steel and aluminium imports as well as slow-moving talks to modernise the North American Free Trade Agreement.

"I think the biggest concern at the moment, more than talk about trade, is the tightening of monetary conditions in emerging markets caused by a stronger dollar", said Michael Hewson, chief markets analyst at CMC Markets in London, noting the Federal Reserve's forecast for a total of four interest rate rises in 2018.

Oil markets edged up, despite the strengthening dollar and fears that Opec countries could decide to increase output at a meeting next week.

U.S. crude oil futures settled at 66.89 per barrel, up 0.38 percent, while Brent went the other way, settling down more than 1 percent at $75.94.

Related News:



Most liked

Antoine Griezmann set to decide Atletico Madrid future in 'The Decision' stunt
And he will be sticking around to help them mount a challenge in the Champions League as well. However, Griezmann now appears to be ready to inform the world.

Super Eagles Match Dates, Venues
A teacher, Mrs Clara Anyanwu, urged Nigerians to pray for the team because of the huge burden of expectations on the players. The also comes after world fashion magazine GQ rated Nigerian Super Eagles jersey as the best for the 2018 World Cup.

New Cyberpunk 2077 E3 Trailer Released
While gameplay itself will take place in first-person view, cutscenes will play out in the third-person. Already, we see fans threatening to not purchase the game due to this recently confirmed feature.

Californians to Vote on Splitting Up State
A nascent opposition campaign already is sounding the more practical alarms about splitting California into three states. Now Californians are set to vote on the "Division of California into Three States" initiative in November.

Trump under fire for saluting North Korean general
Trump has also been widely criticized for his friendliness toward North Korean leader Kim Jong-un during and after the summit. North Korea has among the most brutal regimes on Earth, murdering and imprisoning its own citizens for political dissent.

Duchess Meghan Markle & Queen Elizabeth Avoid a Royal Mishap at Their Car
Why is this one-on-one visit a big deal? And all that matters on this occasion is what the queen thought, the experts said. Kate Middleton and the queen in 2012. " The Queen would have been a relaxing factor in terms of her body language".

Kim Jong Un willing to hold summit with Abe:The Asahi Shimbun
He praised Kim as "a very smart guy" and "a great negotiator", saying that "I think we understand each other". Pompeo also said he's confident that USA talks with North Korea will resume "sometime in the next week".

Amazon Prime expands free Whole Foods delivery service to Philly
Whole Foods is expanding its Prime-exclusive discounts to Alabama and nine other states, the grocery chain announced today. Amazon cuts Whole Foods prices for Prime members while Target slashes the delivery fee for loyalty members.

Super Smash Bros. Ultimate Release Date Set for December
At the massive Electronic Entertainment Expo in Los Angeles Tuesday, Nintendo took the wraps off Super Smash Bros . After Bethesda's announcement that Fallout Shelter and Elder Scrolls Legends are coming to the hybrid console.

Warriors' Durant hints at retirement -- when he's 35
Smith committed an all-time blunder at the end of regulation of Game 1 of the 2018 NBA Finals , LeBron James was left in utter disbelief.

Here’s Why IHOP Has Flipped Its Name to ‘IHOb’
Revamping its burger selection could convince customers to visit later in the day and for more than just hash browns and eggs. All-day breakfast lovers, the mystery has been revealed. "Burgers so burgerin' good, we changed our name to IHOb .

Yes, Trump Talked About Human Rights With Kim Jong Un - Katie Pavlich
Ms Bishop's opposition counterpart Penny Wong echoed concerns that North Korea might not follow through on its promise. I figured Trump [would] at least get some missiles or a site closure or something concrete.

6 new features in 'Assassin's Creed: Odyssey'
In terms of a release date , Ubisoft is expected to release Assassin's Creed Odyssey in 2018 and The Division 2 early next year. And with the release just a few months away, some of you might be trying to decide whether to pre-order the game or not.

Anthony Bourdain to Kate Spade deaths: The celebrity lives depression claimed
At the end of the episode, Bourdain sat in a room with other recovering heroin addicts and spoke to them about how he got past it. More than simply producing shows on food, Bourdain connected people of different cultures through his storytelling.

Donald Trump Withdraws Endorsement Of G7 Joint Statement
Reacting to Trump's tweets , Trudeau's office said: "We are focused on everything we accomplished here at the summit". Trudeau's former foreign policy advisor, Roland Paris lashed out at the USA president.