AGL 40.10 Decreased By ▼ -0.90 (-2.2%)
AIRLINK 127.80 Decreased By ▼ -0.34 (-0.27%)
BOP 6.60 Decreased By ▼ -0.10 (-1.49%)
CNERGY 4.60 Increased By ▲ 0.08 (1.77%)
DCL 8.58 Decreased By ▼ -0.03 (-0.35%)
DFML 41.40 Increased By ▲ 0.31 (0.75%)
DGKC 86.50 Decreased By ▼ -0.63 (-0.72%)
FCCL 32.13 Decreased By ▼ -1.26 (-3.77%)
FFBL 65.40 Decreased By ▼ -0.01 (-0.02%)
FFL 10.27 Decreased By ▼ -0.20 (-1.91%)
HUBC 110.60 Decreased By ▼ -0.03 (-0.03%)
HUMNL 14.70 Decreased By ▼ -0.60 (-3.92%)
KEL 5.15 Increased By ▲ 0.17 (3.41%)
KOSM 7.15 Decreased By ▼ -0.28 (-3.77%)
MLCF 41.69 Decreased By ▼ -1.30 (-3.02%)
NBP 60.20 Decreased By ▼ -0.22 (-0.36%)
OGDC 194.48 Decreased By ▼ -3.16 (-1.6%)
PAEL 27.95 Decreased By ▼ -1.06 (-3.65%)
PIBTL 7.98 Decreased By ▼ -0.28 (-3.39%)
PPL 150.52 Decreased By ▼ -3.64 (-2.36%)
PRL 27.08 Increased By ▲ 2.08 (8.32%)
PTC 16.08 Decreased By ▼ -0.01 (-0.06%)
SEARL 78.20 Decreased By ▼ -0.25 (-0.32%)
TELE 7.42 Increased By ▲ 0.05 (0.68%)
TOMCL 35.70 Decreased By ▼ -0.39 (-1.08%)
TPLP 7.90 Decreased By ▼ -0.17 (-2.11%)
TREET 15.87 Decreased By ▼ -0.09 (-0.56%)
TRG 52.70 Decreased By ▼ -0.66 (-1.24%)
UNITY 26.65 Decreased By ▼ -0.06 (-0.22%)
WTL 1.28 Increased By ▲ 0.01 (0.79%)
BR100 9,920 Decreased By -52.1 (-0.52%)
BR30 30,751 Decreased By -346.3 (-1.11%)
KSE100 93,225 Decreased By -423.8 (-0.45%)
KSE30 28,885 Decreased By -132.9 (-0.46%)

The euro rallied against the greenback on Thursday after the European Central Bank said it could revisit its communication stance in early 2018, boosting expectations that policymakers are preparing to reduce their vast monetary stimulus programme.
With the euro zone seeing its best growth in a decade, the ECB should gradually shift its stance to avoid a more disruptive move later and look at a broader revision of its policy guidance to reduce the focus on bond purchases and raise the emphasis on interest rates, accounts of the ECB's December meeting showed.
"It's certainly more of a hawkish tilt in the minutes," said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto.
"This has been long expected but there was more formality in the minutes around how the bank will manage the forward guidance process as they exit unconventional policy," Schamotta said. "There was quite a bit of money sitting on the sidelines looking for this hint." The euro was up 0.77 percent to $1.2037, on pace for its biggest single-day percentage gain against the greenback in about two months.
"This ought not to be a big surprise, given the pace of recovery we have seen and time horizon for the QE programme, but it has nevertheless given euro bulls a reason to be more confident," Neil Wilson, analyst at ETX Capital said in a note.
The dollar index, which measures the greenback against six rival currencies, was down 0.5 percent at 91.869, after falling to a nearly one-week low of 91.787. The greenback extended losses after data showed US producer prices fell for the first time in nearly 1-1/2 years in December amid declining costs for services. Weak inflation at the producer level could add to concerns that the factors restraining inflation could become more persistent and result in the Federal Reserve being more cautious about raising interest rates this year.
The US central bank's preferred inflation measure, the personal consumption expenditures price index excluding food and energy, has undershot its target since May 2012.
The Canadian dollar recovered ground against the greenback after hitting a nearly two-week low as investors weighed chances of a Bank of Canada interest rate hike next week and worried about the possibility of a US withdrawal from NAFTA. Bitcoin was 11.5 percent lower at $13,185 on the Luxembourg-based Bitstamp exchange after South Korea's government said it plans to ban cryptocurrency trading.

Copyright Reuters, 2018

Comments

Comments are closed.