- The dollar stood tall against the yen and euro on Tuesday as global risk aversion that battered the greenback the previous week eased.
The dollar was little changed at 114.435 yen JPY=, having gained more than 1 percent overnight.
It pulled away from a 16-month low of 110.985 struck last week when a sharp slide in equities worldwide boosted demand for the safe-haven Japanese currency.
The euro, which soared to a 4-month high of $1.1377 last week, was flat at $1.1165 EUR= after losing 0.9 percent on Monday, when market movements were slightly exaggerated as the U.S. markets were closed for a national holiday.
- European Central Bank President Mario Draghi said Monday the ECB is “ready to do its part” to spur more growth, further stoking speculation that policymakers will step up their stimulus program next month.
If the euro zone’s already meager inflation weakens further, “we will not hesitate to act,” Draghi said in testimony before the European Parliament’s economic and monetary affairs committee.
- The European Central Bank is ready to ease policy further in March, President Mario Draghi said on Monday, highlighting risks from financial market volatility, a global slowdown in growth and low oil prices.
The ECB will examine risks emanating from weaker emerging market growth and look at whether plunging crude prices along with market turbulence could derail its efforts to boost inflation, Draghi told lawmakers in the European Parliament.
Reference: Reuters, USATODAY,THESTAR
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