Euro has just up than 1.14 USD for the first time in one year


On Thursday Euro has just up than 1.14 USD for the first time in one year, to continue collecting the strong gains for the third day respectively, because of the probability of tightening the Europe monetary policy starting at the first of next September, especially after the Europe Central governor Mario Draghi last remarks, about shrinking buying debentures program which is motivating the economy.

 At 8:19 GMT the EURUSD has increased to the level 1.1420 from the opening price 1.1376 after it records the highest price since 11 of May 2016 1.1435 and the lowest price 1.1374.

 EUR has ended yesterday trading with an increasing by 0.4% against the USD, in a second daily gain respectively, according to the Europe Central Bank governor Mario Draghi remarks.

Draghi said that he swears he sees a space to shrink the monetary motivation in Eurozone again, to control on increasing inflation pressures, in the middle of continuing improvement of the Economic Activity in Union zone.

This remarks increased the probability of the Europe Central about shrinking the buying debentures program which is motivating the economy in the next of September, and the Bank buying special debentures by 60 million EUR monthly to support the economic activity in Eurozone.

The GPB jumped to a five-week high against the USD at $ 1.2995, extending gains for a seventh consecutive day, after comments by Mark Carney, the central bank governor, that interest rates may need to rise soon.

AUD rises to record high in three months

The AUD rose sharply on Thursday at the expense of a sharp drop in the dollar versus major currencies, as monetary policymakers said monetary stimulus could be withdrawn, which was a significant positive sign for currencies against the USD.

The statements of policymakers have reported an improvement in growth performance, which is pushing inflation up, so some believe it is time to step out of stimulus programs.

AUDUSD is currently trading at 0.7660 after recording a high of 0.7665 and opened the day at 0.7637 and recorded a low of 0.7636.

This trend in the markets caused the USD to fall to its lowest level in eight months against the major currencies. The dollar was negatively affected by the sharp rise in the levels of the euro and the pound, which helped the AUD to rise significantly.