The Dollar Weaker Against the Euro on Monday Ahead of Yellen’s Speech

At 15:00 Beirut time, the Euro was quoted at €/$ 1.1203, the equivalent of €/LBP 1,688.85, appreciating by 0.09% against the US Dollar. Following last week’s positive performance, concerns regarding Janet Yellen’s upcoming speech were mainly behind the dollar’s slip today. In fact, the U.S Federal Reserve Chair is expected to reaffirm tomorrow its previous cautious statement concerning further rate hikes.

Locally, the Dollar remained unchanged against the Lebanese Pound at the quote of $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound depreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.18% downtick to 167.24 points today.

The Dollar Weaker Against the Euro on Monday Ahead of Yellen’s Speech

 Date: 29 March 2016
 

 

 

 

 

 

 

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