Euro struggles against dollar

AFP, HONG KONG: The euro tumbled against the dollar yesterday as dealers bet on fresh stimulus from the European Central Bank later in the day, while most Asian stock markets fell following the previous day’s gains.
Asian energy firms tracked losses in their US counterparts as a supply glut and strong dollar weigh on oil prices ahead of a key meeting of the OPEC oil cartel.
The greenback rallied Wednesday in New York after Federal Reserve boss Janet Yellen said she considered the US economy strong enough to withstand an interest rate rise.
Her comments virtually assure a hike at its next policy meeting this month following a slew of mostly strong data.
The dollar jumped against the yen and euro in US trade.

Euro struggles against dollar

AFP, HONG KONG: The euro tumbled against the dollar yesterday as dealers bet on fresh stimulus from the European Central Bank later in the day, while most Asian stock markets fell following the previous days gains. Asian energy firms tracked losses in their US counterparts as a supply glut and strong dollar weigh on oil prices ahead of a key meeting of the OPEC oil cartel. The greenback rallied Wednesday in New York after Federal Reserve boss Janet Yellen said she considered the US economy strong enough to withstand an interest rate rise. Her comments virtually assure a hike at its next policy meeting this month following a slew of mostly strong data. The dollar jumped against the yen and euro in US trade.