FX round-up: Dollar rises against euro on ECB speculation
Fri 31 Aug 2012
LONDON (SHARECAST) - The dollar rose against the euro on Thursday as concerns over the Eurozone resurfaced amid speculaion of what action the European Central Bank will take following its meeting next week.
Further denting sentiment in the region was Spain's Prime Minister, Mariano Rajoy, who said on Thursday that his government wants to see what the aid conditions are exactly before it commits itself to asking for a bailout from the EU.
The single currency declined from $1.2541 on Wednesday to $1.2531 last night, having slipped under the $1.25 mark for a while earlier in the day.
The ICE dollar index, which measures the greenback against a basket of six other currencies, climbed from 81.551 the previous evening to 81.704 last night.
Meanwhile, the WSJ dollar index, which measures a larger number of currencies against the greenback, rose from 71.05 to 71.17 over night.
The pound dropped to $1.5784 last night from $1.5834 on Wednesday evening, while the Australian dollar declined from $1.0356 to $1.0297.