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U.S. dollar rallies against euro on ECB decision

Xinhua, December 9, 2016 Adjust font size:

The U.S. dollar rose over 1 percent against the euro on Thursday after the European Central Bank (ECB) decided to extend its asset purchasing program until the end of next year.

The ECB said on Thursday that it will extend its quantitative easing program until December 2017, but will reduce purchases to 60 billion euros (64 billion U.S. dollars) per month. Current asset purchases of 80 billion euros (85 billion dollars) per month were due to end in March 2017 before the decision.

The euro slumped 1.31 percent against the greenback during the session after ECB' s announcement. The dollar index, which tracks the greenback against six major peers, was up 0.93 percent at 101.160 in late trading.

On the U.S. economic front, in the week ending Dec. 3, the advance figure for seasonally adjusted initial jobless claims was 258,000, a decrease of 10,000 from the previous week's unrevised level, the Labor Department reported on Thursday.

In late New York trading, the euro fell to 1.0611 dollars from 1.0752 dollars, and the British pound slipped to 1.2573 dollars from 1.2615 dollars. The Australian dollar decreased to 0.7458 dollars from 0.7476 dollars.

The dollar bought 114.10 Japanese yen, higher than 113.95 yen in the previous session. The dollar inched up to 1.0169 Swiss francs from 1.0075 Swiss francs, and it fell to 1.3190 Canadian dollars from 1.3234 Canadian dollars. Enditem