March 7, 2014 / 11:38 AM / 4 years ago

Euro hits highest since Oct 2011 after LTRO data

LONDON, March 7 (Reuters) - The euro rose to its strongest since the fourth quarter of 2011 on Friday, hitting a high of $1.3915 on the back of data from the European Central Bank showing banks were set to repay a big chunk of its emergency 3-year loans next week.

The single currency has been rising steadily since an ECB policy meeting on Thursday that surprised many on markets both by declining to take more action to spur growth and with the lack of a strong signal that such moves were on the way.

It also hit a two-month high against the yen of 143.225 . Money market rates also rose with EONIA one-year forward rates for a year’s time up 2 basis points to 0.238 percent.

“We do think there are some offers (for the dollar) around 1.3920 but it can go anywhere after non-farm payrolls,” said a dealer with one European bank in London.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below