April 6 (Bloomberg) - the euro advanced to its highest level against the dollar in more than 14 months on speculation the European Central Bank will still increase borrowing costs after raising its rate target of tomorrow.
The greenback fell to a record low against the Australian dollar and the lowest level against the Canadian currency over three years on the view that the Federal Reserve will be the other central banks back to a trail policy monetary normal. The yen dropped against all its major counterparts on Paris, the Bank of Japan will stimulate the stimulus as the nation recovers from its worst earthquake on record. "" The hypothesis on the market, it is that the ECB will not only raise rates tomorrow, but it may engage in closer, and this is really what strengthens the euro ", said Boris Schlossberg, Director of research at the operator of currencies online GFT Forex in New York. "The Japan remains ultra accommodation that the eye can see, and the rest of the world is slowly but surely moving towards tightening."The euro gained 0.8 percent to $1.4343 at 11: 25 pm in New York, for $1.4223 yesterday, after touching $1.4349, the highest level since January 2010. The yen depreciated by 0.5% in dollar 85.32 of 84.87, violate 85 for the first time since September. The euro climbed 1.4% to 122.37 yen, Swiss franc 120.70.The gained against most of its major counterparts, up 0.9% at 91.70 cents against the dollar, as inflation unexpectedly accelerated March.Swiss InflationConsumer increased 1 percent for the year previous pricesthe Federal Statistics Office reported. Forecasts median 11 economists in a survey of Bloomberg News has been for a 0.5% annual pace, the same as in the previous month."Europe's currency has gained this year that the strongest economic growth in Germany to 6.9% against the dollar and the acceleration of inflation boosted expectations that the decision-makers in the block 17 members will need to increase policy interest rates"."We are witnessing the rise in the euro zone is much interest-rate-driven,", said Sarah Hewin, Senior Economist at Standard Chartered Plc in London. "The markets are more moves the display of an increase in the rate of a fact the next meeting who sees the that higher rates more later."On 3 March, the ECB President, Jean-Claude Trichet noted that decision makers can raise the reference rate at their next meeting to curb the acceleration of inflation, which reached a record of two years from 2.6 per cent last month.ECB rate Informationwe ECB to rely on its main rate of refinancing by percentage of quarter of a percentage point 1 record tomorrow, after 57 economists polled by the Bloomberg.Germany factory orders rose in February more than expected, advancement of 2.4 per cent after the increase of 3.1% the previous month, announced today that the Ministry of the economy. Analysts in a survey of Bloomberg News had expected a gain of 0.5 per cent.The euro rose today after an auction Portuguese of 1 billion euros ($1.4 billion) borrowing costs increased from invoices. Securities held in March 2012 were sold at an average speed of 5.902%, compared to an average rate of 4.331% for bills of similar maturity sold last month.Cut Moody's Investors Service rating of credit Portugal to Baa1 yesterday during the second reduction in three weeks, saying: expected Government emerging from the elections on 5 June to trigger the installation of rescue of the European Union.The yen collapsed on speculation Japan will be trail other developed nations in the end of the stimulus measures as it rebuilt after its largest earthquake on record. "Off the coast of the Table'" even if the United States is slow, we can see when policy tighten, "said Jon Wetreich, a strategist at Brown Brothers Harriman & Co. in New York currency. "To the Japan." It is kind of off the table. Which is the engine of the yen lower against all currencies. "The Bank of the Japan is considering offering a program of credit banks to spur lending to companies with shortages of cash by an earthquake of magnitude 9 on 11 March, those familiar with the matter told Bloomberg News. The plan can be presented as earlier this month, they said this week, speaking on condition of anonymity because the discussions are not public.Japan's Central Bank will keep its rate target zero 0.1% at the end of his two-day meeting tomorrow, according to 14 economists interviewed by Bloomberg.The Fed will raise its zero rate target of 0.25% for loans to the day the day between banks in the first quarter of 2012, according to the median forecast of 60 economists in a separate survey of Bloomberg News .l ' Aussie appreciated as much as 1.2% to $1.0451, the highest since the currency trade freely in 1983. The Canadian dollar has gained as much as 0.7 cents 95.69% against the U.S. currency, the highest since November 2007.-With the help of Garth Theunissen in London. Editors: Dennis Fitzgerald, Paul Cox
To contact the reporter on this story: Catarina Saraiva in New York at the asaraiva5@bloomberg.net
To contact the editor responsible for this story: Dave Liedtka to the dliedtka@bloomberg.net
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