The
euro climbed from an 11-year low amid speculation the victorious Syriza
party in Greek elections will pursue its anti-austerity agenda without
forcing an exit from the currency bloc.
The
Russian ruble closed at the weakest level on record after Standard
& Poor™s cut the nation™s credit rating to junk. The dollar gained
versus the yen with the Federal Reserve forecast to to raise interest
rates this year. The central bank starts a two-day meeting Tuesday. The
euro tumbled 3.5 percent against the greenback the previous two days
after the European Central Bank said it will pump 1.1 trillion euros
($1.2 trillion) under quantitative easing into the economy. Brazil™s
real and China™s yuan dropped.
The euro climbed 0.3 percent to $1.1238 at 5 p.m. in New York after sliding to $1.1098, the weakest level since September 2003.
The
common currency advanced 0.9 percent to 133.12 yen and strengthened 3
percent to 1.0151 Swiss franc, as currencies perceived as havens were
among the biggest losers versus the 19-nation euro. The yen slipped 0.6
percent to 118.46 per dollar.
Three-month
implied volatility on the euro against the dollar was at 11.69 percent,
compared with an average of 6.81 percent during the past 12 months.
Source : Bloomberg
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