U.S. Dollar Triggered Down by Concerns Over Fed’s Rate Hike

At 11:30 Beirut time, the Euro was quoted at $/€ 1.1158, the equivalent of €/LBP 1,682.07, appreciating against the US Dollar by 0.11% from Friday’s close.

The Dollar was pushed back versus the Euro partially due to lower than expected Non-Farm Payroll (NFP) coupled with rising uncertainties about the Fed increasing interest rates this month or in December 2015

Locally, the Lebanese Pound steadied versus the Dollar at LP/$ 1,508-1,512 with a mid-price of LP/$ 1,510.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound improved as reflected by the NEER, published by BLOMINVEST, which up ticked by 0.09% to 167.26 today.

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