Euro surges to two-and-a-half-year high after Draghi comments, oil up after Harvey

28 Aug 2017   Europe, USA

The euro surged to its highest level since January 2015 against the dollar early on Monday, after European Central Bank President Mario Draghi failed to talk down the single currency’s strength as had been expected. Oil prices inched higher after Tropical Storm Harvey struck Texas over the weekend at the heart of the United States’ oil and gas industry, forcing operators to close several refineries and evacuate and close offshore platforms. Japanese and Australian stock futures were pointing to higher opens, but S&P E-mini futures were marginally lower. Speaking at the U.S. Federal Reserve’s annual conference in Jackson Hole, Wyoming, Draghi said the ECB’s ultra-easy monetary policy was working and the euro zone’s economic recovery has taken hold, but didn’t cite the common […]

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