US dollar rises against euro amid eurozone stimulus

GMT 02:46 2014 Saturday ,22 November

Arab Today, arab today US dollar rises against euro amid eurozone stimulus

US dollar rises against euro
New York - XINHUA

The U.S. dollar was mixed against other major currencies and rose against the euro to a two-week high Friday as the head of European Central Bank (ECB) pledged to expand the institution's stimulus program.
The ECB President Mario Draghi said Friday that the central bank was ready to "do what we must to raise inflation and inflation expectations as fast as possible" and "step up the pressure and broaden even more the channels through which we intervene."
Draghi reiterated his determination to apply more aggressive measures including large scale asset purchases to boost the waning economy in the eurozone.
The euro was under pressure after Draghi's speech. The euro/ dollar rate dropped 1.20 percent to 1.2388 in late trading, the lowest level in two week.
The dollar index, which tracks the greenback against six major currencies, was up 0.82 percent at 88.313 in late trading.
In late New York trading, the euro decreased to 1.2388 dollars from 1.2551 dollars in the previous session, and the British pound fell to 1.5647 dollars from 1.5699 dollars. The Australian dollar went up to 0.8662 dollar from 0.8636 dollar.
The U.S. dollar bought 117.79 Japanese yen, lower than 117.95 yen of the previous session. The greenback went up to 0.9701 Swiss franc from 0.9575 Swiss franc, and moved down to 1.1240 Canadian dollars from 1.1304 Canadian dollars.

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