Spreadex Market Update
The morning’s stories are headed by the euro’s rise against the dollar.
The morning’s stories are headed by the euro’s rise against the dollar. The markets took President Draghi’s comments on Thursday as a sign the ECB will begin to taper stimulus in October, although Draghi himself refused to be drawn on whether this would be the case. The euro climbed 0.2%, totalling a 1.6% rise for the week. The currency’s gain was the stock markets loss, however, as the rise took its toll on European exporters.
Elsewhere, the yen rose 0.4% on the dollar to 111.49, with the dollar not helped by continued uncertainty surrounding the Robert Mueller probe. Industrial metals also saw a collective rise this morning, the biggest mover coming from copper, jumping 1.3% to a four month high.
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