TOKYO: The euro held near two-year highs against the dollar on Friday after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn, while a solid global economic outlook kept Asian share prices near decade highs.
Although ECB President Mario Draghi set no date for changes to the bond-buying plan, investors took his comments on Thursday as confirming their expectations that the discussions would lead to monetary tightening next year.
"Although bond markets didn´t take his comments as something particularly new, the currency market liked the fact that Draghi confirmed his stance towards tapering," said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank. By late Asian trade, the euro stood at $1.1630, maintaining its 1 percent gain on Thursday, its biggest since June 27, when Draghi first sparked expectations that the ECB will dial back its bond buying scheme.
Signs of steady global growth, which have prompted the ECB and a couple of other major central banks to signal future tightening since last month, have kept the world´s shares on firm footing.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
The logos of the World Bank and IMF. — AFP FileNEW YORK: The United States is the MVP of GDP. That was the...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
Stack of Rs5,000 and Rs1,000 notes. — AFP/FileKARACHI: The rupee lost ground against the dollar in both currency...
