January 17, 2018 / 8:33 PM / 9 months ago

FOREX-Euro slips from 3-year peak on ECB officials' remarks, bitcoin sags

    * ECB officials raise concerns about surging common currency
    * Dollar finds respite but outlook remains grim
    * Cryptocurrency rout accelerates on clampdown worries
    * Canadian dollar weakens briefly as BOC rings cautious tone

 (Updates to late U.S. market action)
    By Richard Leong
    NEW YORK, Jan 17 (Reuters) - The euro fell on Wednesday,
pulling back from a three-year high above $1.23 as some European
Central Bank officials voiced worries about the currency's
strength.
    The euro's decline helped stabilize the greenback, which
also had brief support from a weaker Canadian dollar after the
Bank of Canada struck a cautious tone along with an expected
rate hike on Wednesday.
    The outlook for the dollar, however, remains dour on the
view that other central banks besides the Federal Reserve are
moving away from the ultra low-rate stance and unconventional
tools they adopted after the 2008 global credit crisis.
    "There's still a lot of bearish sentiment on the dollar,"
said Minh Trang, senior foreign currency trader at Silicon
Valley Bank in Santa Clara, California.
    Still, the greenback snapped a four-session losing streak.
    At 3:12 p.m. (2012 GMT), the index that tracks the dollar
against a basket of currencies was up 0.26 percent at 90.629. It
hit a three-year low of 90.113 earlier.
    The Canadian dollar rose 0.17 percent to C$1.2411. It
weakened briefly after the BOC policy statement.
    The euro was down 0.29 percent at $1.2223 after hitting a
three-year peak versus the greenback at $1.2322.
    Digital currencies suffered another day of heavy losses on
worries about a widening regulatory crackdown.
    Bitcoin fell more than 10 percent to below
$10,000 for the first time since Dec. 1 on the Luxembourg-based
Bitstamp exchange. The biggest digital currency has lost half
its value since it peaked near $20,000 about a month ago. 
        
    ECB WEIGHS IN ON RISING EURO
    The speed of the euro's rise in early 2018 - up more than 3
percent in the last two weeks - has prompted comments from ECB
officials, highlighting growing concerns, according to analysts.
    ECB policymaker Ewald Nowotny told reporters on Wednesday
the euro's recent strength against the dollar is "not helpful,"
which encouraged a bout of profit-taking before a policy meeting
next week.
    In an interview with Italian newspaper la Repubblica Vitor
Constancio, the ECB vice president, said he did not rule out
that monetary policy would still continue to be "very
accommodating for a long time".
    "The euro's strength will cause some concerns to the ECB and
it will definitely complicate their policymaking thinking, and
some investors are taking profits after the recent rally," said
Adam Cole, chief FX strategist at RBC Capital Markets in London.
========================================================
    Currency bid prices at 3:12PM (2012 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.2223        $1.2259     -0.29%         +1.89%      +1.2322     +1.2197
 Dollar/Yen       JPY=        111.1400       110.4400    +0.63%         -1.36%      +111.1800   +110.2000
 Euro/Yen         EURJPY=     135.84         135.41      +0.32%         +0.49%      +135.9700   +135.1700
 Dollar/Swiss     CHF=        0.9624         0.9594      +0.31%         -1.22%      +0.9651     +0.9574
 Sterling/Dollar  GBP=        1.3870         1.3791      +0.57%         +2.65%      +1.3942     +1.3757
 Dollar/Canadian  CAD=        1.2407         1.2433      -0.21%         -1.35%      +1.2537     +1.2372
 Australian/Doll  AUD=        0.8003         0.7960      +0.54%         +2.59%      +0.8022     +0.7941
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.1763         1.1762      +0.01%         +0.63%      +1.1801     +1.1754
 Euro/Sterling    EURGBP=     0.8809         0.8886      -0.87%         -0.83%      +0.8908     +0.8810
 NZ               NZD=        0.7301         0.7265      +0.50%         +3.03%      +0.7331     +0.7236
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        7.8501         7.8708      -0.26%         -4.35%      +7.8986     +7.8131
 Euro/Norway      EURNOK=     9.5947         9.6525      -0.60%         -2.58%      +9.6635     +9.5788
 Dollar/Sweden    SEK=        8.0273         8.0373      -0.49%         -2.13%      +8.0710     +7.9912
 Euro/Sweden      EURSEK=     9.8111         9.8591      -0.49%         -0.28%      +9.8716     +9.8080
    

    
 (Additional reporting by Saikat Chatterjee in London; Editing
by Susan Thomas and Chizu Nomiyama)
  
 
 ))
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below