The dollar has fallen within the correction after rising on ECB statements

The dollar has fallen within the correction after rising on ECB statements


The dollar index (the dollar against a basket of currencies of six major U.S. trading partners) was down 0.22% to 96,87 item.

MOSCOW, 26 Jan. The dollar during trading Monday shows a decline against the world currencies within the correction after reports the European Central Bank’s quantitative easing program, according to AFP.

As at 07.17 GMT the Euro against the dollar grew to 1,1040 with 1,1018 dollar dollar per Euro on Friday. The dollar against the yen fell to 121,10 yen per dollar with 121,45 yen per dollar at the previous closing. The dollar index (the dollar against a basket of currencies of six major U.S. trading partners) was down 0.22% to 96,87 item.

Earlier at a press conference following the meeting ECB’s Draghi said that the regulator will need to revisit its monetary policy in December. He recalled that the programme of asset purchases is sufficient flexible and allows adjustments of size, composition and duration. The message from Draghi led to the fall of the European currency.

In addition to the growth of the U.S. currency contributed to the decision of the Chinese Central Bank. The people’s Bank of China on Friday cut the interest rate by 0.25 percentage points to 4.35%. Deposit rate thus reduced by 0.25 percentage points to 1.5%. The changes came into force from Saturday, October 24. From the same date in reserve requirements for Chinese banks reduced by 0.5 percentage point in order to maintain an acceptable level of liquidity in the banking system.

“Around the world in the spotlight now are the decisions of Central banks and monetary policy in General,” said the chief currency strategist in the Japanese division of Barclays Bank Signiture of Kadota (Shinichiro Kadota), quoted by portal The Hindu Business Line.