BR100 Decreased By (-0.15%)
BR30 Decreased By (-0.74%)
KSE100 Decreased By (-0.41%)
KSE30 Decreased By (-0.67%)
BECO 5.80 Decreased By ▼ -0.23 (-3.81%)
BML 58.03 Increased By ▲ 5.28 (10.01%)
BOP 33.85 Decreased By ▼ -0.40 (-1.17%)
CNERGY 8.15 Decreased By ▼ -0.01 (-0.12%)
DCL 11.77 Decreased By ▼ -0.57 (-4.62%)
FCCL 53.35 Decreased By ▼ -0.54 (-1%)
FCSC 5.40 Increased By ▲ 0.18 (3.45%)
FFL 17.89 Decreased By ▼ -0.14 (-0.78%)
FNEL 1.31 Increased By ▲ 0.01 (0.77%)
HUMNL 11.06 Increased By ▲ 0.06 (0.55%)
KEL 8.05 Decreased By ▼ -0.06 (-0.74%)
KOSM 5.45 Increased By ▲ 0.07 (1.3%)
MLCF 87.19 Decreased By ▼ -0.86 (-0.98%)
NBP 184.60 Decreased By ▼ -1.88 (-1.01%)
PACE 11.62 Increased By ▲ 0.90 (8.4%)
PAEL 40.31 Increased By ▲ 0.37 (0.93%)
PIAHCLA 26.10 Decreased By ▼ -0.07 (-0.27%)
PIBTL 17.09 Decreased By ▼ -0.23 (-1.33%)
PPL 228.40 Decreased By ▼ -4.38 (-1.88%)
PRL 34.59 Decreased By ▼ -0.36 (-1.03%)
PTC 67.35 Decreased By ▼ -0.21 (-0.31%)
SEARL 91.00 Increased By ▲ 0.07 (0.08%)
SSGC 26.90 Decreased By ▼ -0.27 (-0.99%)
TELE 8.53 Decreased By ▼ -0.04 (-0.47%)
THCCL 66.14 Increased By ▲ 6.01 (10%)
TPLP 9.29 Increased By ▲ 0.53 (6.05%)
TREET 24.59 Increased By ▲ 0.05 (0.2%)
TRG 71.69 Decreased By ▼ -0.06 (-0.08%)
WAVES 10.98 Increased By ▲ 1.00 (10.02%)
WTL 1.28 Increased By ▲ 0.02 (1.59%)
Markets

Euro-dollar stable ahead of ECB meeting

Published February 8, 2012 Updated February 8, 2012 10:54pm

 NEW YORK: The euro was flat against the dollar Wednesday as Greek leaders pored over a "final deal" for a debt restructuring and ahead of policy meetings in the European Central Bank and Bank of England.

At 2200 GMT the euro was trading at $1.3260, compared to $1.3261 late Tuesday.

The Japanese yen slipped against both, meanwhile: the euro rose to 102.14 yen from 101.82, while the dollar moved to 77.03 yen from 76.78.

The presentation of the Greek deal, demanding steep, specific austerity measures in exchange for a debt writedown and new financing involving hundreds of billions of euros, did not move a market long awaiting the pact.

Greek Prime Minister Lucas Papademos was locked in talks late Wednesday with coalition leaders to secure approval for the deal.

"Market participants have seemingly priced in the resolution of this event, considering that the euro-dollar rate has rallied 4.99 percent since January 16," said Christopher Vecchio of DailyFX.

Investors were also looking to Thursday's policy meetings at the European Central Bank and the Bank of England, both expected to keep interest rates at current low levels.

A press conference after the decisions with ECB President Mario Draghi could give hints on how strong or weak the European economy will be over the coming months, analysts said.

"Specific comments with regards to the Greek crisis and its impact on the broader euro economy are likely to take center stage with the euro likely to find solace if Draghi continues to talk down the risk of a Greek-euro exit," said Michael Boutros of DailyFX.

The dollar gained to 0.9124 Swiss francs from 0.9116 francs. The British pound slipped to $1.5818 from $1.5900.

Copyright AFP (Agence France-Presse), 2012

Comments

Comments are closed for this article.