Dollar gains amid ECB talk of anti-deflation measures

Dollar gains amid ECB talk of anti-deflation measures
Updated on

Summary The dollar strengthened against the euro amid ECB talk of anti-deflation measures.

NEW YORK (AFP) - The dollar strengthened against the euro Wednesday, helped by stronger US economic data and hints from the European Central Bank that it will act to fight deflationary pressures.

Around 2200 GMT the euro was at $1.3788, compared to $1.3825 late Tuesday.

The euro began losing ground on Tuesday after statements from ECB officials saying they would take action to combat deflation, hinting at a quantitative easing program or other moves.

The dollar also got help when the US Commerce Department reported that durable goods orders rose 2.2 percent in February from the prior month, better than the 1 percent decline expected by analysts.

The yen, meanwhile, picked up strength in late trade, with the dollar falling to 102.00 yen from 102.25, and the euro to 140.57 yen from 141.36 yen.

The British pound rose to $1.6576 from $1.6528 Tuesday, while the dollar traded at 0.8845 Swiss franc, up from 0.8826 franc.
 

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