News Column

Euro falls, stocks rise

August 25, 2014

LONDON, Shawwal 29, 1435, August 25, 2014, SPA -- The euro fell to a near one-year low against the dollar and euro zone stocks and bonds rallied on Monday as investors positioned for rising chances of further policy easing by the European Central Bank, Reuters reported.

ECB President Mario Draghi said late on Friday that the bank was prepared to respond with all its available tools should inflation in the euro zone drop further.

The euro skidded to $1.3185 in early Asian trade, its lowest since September 2013, from around $1.3246 late in New York on Friday. It was last trading at $1.3190, down about 0.3 percent on the day, amid lower than usual volumes due to a holiday in London.

The euro zone's blue-chip Euro STOXX 50 index was up 1.2 percent to 3,135.38 points after climbing to a three-week high in early deals. Both Germany's DAX and France's CAC 40 gained 1.2 percent.

In commodities markets, the rising dollar pressured prices with spot gold hovering near its lowest in two months at $1,277.00.

Brent crude dipped towards $102 a barrel on Monday as ample supply and a stronger U.S. dollar continued to pressure oil markets.


12:52 LOCAL TIME 09:52 GMT

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Source: Saudi Press Agency (Saudi Arabia)

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