Euro (EUR) Exchange Rates Strengthen Following Draghi's Statement

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On top of that the United States dollar fell, hitting a 10 month low against the euro and United States bond yields rose sharply on those comments from European Central Bank president Mario Draghi who called an end to the dangers of deflation in Europe and indication that reflationary pressures were now the chief concern. The FTSE 100 of leading British shares was 0.2 percent lower at 7,435.

Positive comments from central bankers helped fuel the buying spurt and the sentiment looks set to flow through to the ASX, where futures were up 0.6 per cent ahead of opening.

"The threat of deflation is gone and reflationary forces are at play", he said.
Though saying the eurozone required "considerable" stimulus that was perceived as a modest change in tone to the previous form of words of "very substantial".

Benchmark 10-year German government bonds, known as bunds, were marked 1 basis points higher Wednesday at 0.39%, a four-week high, as investors re-priced inflation risks in both the region's biggest economy and the broader Eurozone.

"The market failed to take note of the caveats in Draghi's speech", one of the sources said.

Cops asked to avoid Eid prayers in public places
Pandith was on frisking duty outside the Jamia Masjid and was reportedly clicking pictures of people coming out of the mosque. Police has arrested three more persons in connection to the case of lynching of DySP Mohammad Ayoub Pandith on Saturday.


The currency was higher against its major counterparts in the Asian session. There were no significant comments on monetary policy from Fed Chair Yellen, although there were some comments that inflation had fallen below target.

GOOGLE FINE: Aside from the central bankers, the focus in the markets has been on the whopping 2.42 billion-euro ($2.72 billion) fine the European Union has slapped on Google. Additionally, the Bank of England appears split as it relates to the current low interest rate environment. Google has been given 90 days to stop or face further fines of up to 5 percent of the average daily worldwide revenue of parent company Alphabet.

The comments lifted the euro more than 1% against the dollar in Tuesday trading, a rally that continued into the European session and extended the gain a further 0.38% to 1.1381, the highest since last June's EU referendum in the United Kingdom. Hong Kong's Hang Seng index edged 0.1 percent lower to 25,839.99.

The S&P 500 dropped 0.8% to end at 2,419.38 - with financials the only major sector to hold on to their gains - its biggest one-day drop since May 17. Europe's technology sector shed 1.2% and Asian tech companies moved lower following declines in their USA counterparts, which helped the Dow Jones Industrial Average and the S&P 500 post their biggest daily declines in more than a month. Brent, the worldwide standard, gained 69 cents to $46.52 per barrel in London.

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