| CATEGORY: FX |
Wed 15 Aug 2012
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LONDON (SHARECAST) - The euro fell against the dollar on Wednesday, hitting its lowest level in six weeks after economic data from the US indicated that the Federal Reserve may decide to further ease its monetary policy.
The single currency dropped to $1.2284, having traded hands at $1.2324 the previous day. It last closed below $1.23 on July 30th.
The ICE dollar index, which measures the greenback against a basket of six major currencies, climbed from 82.540 on Wednesday to 82.673 last night.
The WSJ dollar index, which measures the greenback against a larger collection of currencies, climbed from 71.67 to 71.79 overnight.
Meanwhile, comments from European Economic and Monetary Affairs Commissioner Olli Rehn have put the issue of a Spanish bailout back in the spotlight.
Speaking on Bloomberg Television yesterday Rehn signalled that Spain's government is considering a request for a sovereign bailout although no decision has been made.
"The Spanish government has an open mind on this issue, but no decision has been made," Rehn said. "We stand ready to act if there is a request."
Against the euro, the pound bought 1.2762, compared to 1.2711 the previous evening.
The British currency swapped hands for $1.5690, compared to $1.5681 on Tuesday.
Elsewhere the dollar rose to trade hands at ₯78.98 comared to ₯78.74 the prior evening.
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