THEeuro trudges against the dollar. The single European currency is exchanged at dollars 1,2342 at 10,15 this morning, a value very close to the lows of the last 2 and a half years. At the basis of the exploit of the dollar against the European currency is the expectation for Thursday's meeting of the ECB and speculation on the US labor market data (relating to November) which will be released on Friday.
Furthermore, the American ticket set a new record and also strengthened significantly on the yen reaching the highest since August 2007. At 10 this morning the dollar/yen exchange rate stood at 119,35.
In terms of the exchange rate with the yen, the euro does not stand by and takes advantage of the weakening of the Japanese currency to consolidate at the highest levels of the last six years. At 10,15am today the euro/yen exchange rate stabilized to 147,22. Underlying the weakness of the Japanese currency are endogenous factors: the Japan's sovereign debt rating cut by Moody's and the recent confirmations that the ghost of deflation has not completely disappeared.
