World Currencies continue to rise and the dollar falls because of Iraq
World Currencies continue to rise and the dollar falls because of Iraq
06/18/2014
BAGHDAD / JD / .. rose yen and Swiss franc, as the Japanese currency touched its highest level in four months against the euro, as investors sought a safe haven amid escalating violence in Iraq and the conflict between Russia and Ukraine concerning gas.
And exceeded GBP $ 1.70 for the first time in 5 years, as investors bet that the Bank of England will tighten its monetary policy before the end of the year.
According to Reuters, the dollar fell with traders eye indications from the Federal Reserve (the U.S. central bank) on the timing of raising interest rates, amid doubts about the economic recovery.
The dollar fell 0.23 percent to 101.82 yen at the minimum range of moves during this month.
The euro dropping to its lowest level in four months against the yen, before recovering in U.S. trading, to being traded at 138.16 yen.
Russia cut gas supplies to Ukraine amid a dispute concerning dues not paid by Kiev, which could disrupt supplies to the rest of Europe. The decline in both the dollar and the euro against the Swiss franc, a safe haven for the last being passed around at 0.8975 Swiss franc and 1.2179, respectively.
The dollar fell against most major currencies, the euro rose 0.2 percent against the dollar to 1.3569 dollars, which is higher than the lowest level in four months of $ 1.3503 hit this month, when he announced the European Central Bank to facilitate its monetary policy.
The record Sterling, who was in support of the hard-line policy of the Bank of England, to $ 1.7011, the highest level since August 2009, before falling back to 1.6978 dollars in U.S. trading. The euro dropped to 79.59 pence against the pound sterling, hitting the lowest level since November 2012, before rising to 79.91 pence. / End / / 22
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