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The European Central Bank announced a reduction in its monthly asset purchases since January 2018. While the bond purchase continued for at least nine months. The dollar rebounded sharply against major currencies on Thursday against the euro.
The ICE dollar index rose 1% to 94.683. The highest level in mid-July, while the WSJ index rose 0.8% to 87.82. The euro fell from $ 1.1813 to $ 1.1650, the first time since July fell below $ 1.17.
US dollar against the yen reported 114.05. Slightly higher than Wednesday’s 113.74 US dollars this week. Therefore, the second break 114 obstacles. The dollar currency of the dollar index of the Swedish krone is also due to the decision of the central bank and the decline. The Swedish central bank to maintain interest rates unchanged. The dollar closed at 8.3590 kronor. Up from 8.2183 later on Wednesday. Check exchange rate, Brisbane, now.
In Norway the Norwegian central bank also announced in early trading in Europe to keep interest rates unchanged. The Norwegian krona weakened against the dollar at 8.1755. While on Wednesday, it was 8.0170. With the Swiss franc, the dollar rose near parity. Then, rose to a 5-month high of 0.9977 francs. Slightly later Wednesday to 0.9897 francs. The pound fell to $ 1.3153 against the dollar. Down from $ 1.3262 later on Wednesday.
After emerging markets, Turkey’s lira hit a nine-month low after the Turkish central bank kept interest rates unchanged. Turkish currency has also been affected by domestic political issues and diplomatic means. Moreover, the dollar against the Thursday reported 3.7668. However, compared with Wednesday’s 3.8163 lire rose.
At the same time, the dollar continued to rise against the South African Rand. Then, rose to the highest level since November 2016. According to Win Thin, Wednesday’s budget shows that South Africa’s financial situation is deteriorating. In addition, the debt-to-GDP ratio will reach 60%.1 US dollar against 14.2375 rands. However, higher than Wednesday night 14.0487 rand. Value currency exchange rate Brisbane is always the best.
Until September 2018, January, the bond will be reduced from a month to 30 billion euros. In the press conference after the policy announcement, Draghi said that the reduction in asset purchases is called “downsizing” rather than “tapering” more appropriate. Moreover, he added that the US economy was further higher in the recovery cycle than the Eurozone. Furthermore, that the European interest rate would remain low for a longer period of time. Value Accountants got the best exchange rate, Brisbane.
For the dollar traders, the focus is still the future of the Associated Press. Thursday’s news report that Ye Lun is no longer appointed as the second president. Associate director Powell and Stanford University economist Taylor are considered to be the primary candidate to replace her. President Chuanpu is expected to announce his choice before starting his trip to Asia on 3rd November.
Citigroup’s EU economist Christian Schulz analysis, if the European Central Bank to reduce debt. The Italian government’s government bonds will be lack of interest. In the result, the yield will rise. Italy’s economic recovery plan may be stagnant. However, policy in a difficult time to come. In a state of political instability. When the European Central Bank out of the market, will make it more difficult to face the situation in Italy QE reduction. Due to they have a high liability. So that they are more sensitive to changes in interest rates. Chose Value the best exchange rate, Brisbane. As we know so far, Value Currency Exchange is the number one forex exchange in Brisbane.
The European Central Bank is expected to announce a more detailed debt relief plan. After Thursday’s meeting, economists predict that the policy. Therefore, they will begin in the second half of 2018. Yes, we offer the best exchange rate Brisbane. In the QE policy, Italian government bond sellers are mostly foreign or individual retailers. There are not too many local investors such as banks. Moreover, they usually have a more stable financial situation Schultz said. The question is when the European Central Bank gradually withdraws. Who can become a new buyer? How will the Italian interest rate be affected?
Not everyone is so pessimistic. Luca Cazzulani believes that Italy should be able to fill the central bank to stop the gap caused by QE. After all, the central bank will continue to purchase debt by the end of next year. He said: Investors to carry out a net transfer of bonds to the European Central Bank. In that way, means that they now hold fewer bonds. These investors should have the means to return to their original state.
Of course, other countries are facing the same problem. Check exchange rate Brisbane every day. Furthermore, Let’s make it as a good habbit. The problem is particularly large.
There were many anti-proprietors of the possible candidates. However, it including the former Prime Minister Silvio Berlusconi of the Italian Power Party (Forza Italian Party).
Citi analyst Schulz believes that the Italian Ministry of Finance and Economy will find it difficult to find new buyers of bonds. Unless they are more attractive to bond packaging. In the case of bond yields close to historical lows. Retail investors will choose higher return on investment goods. Therefore, such as corporate bonds or stocks.
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