The dollar rose to its highest level in 20 months against the yen. While futures rose for Brent crude more than a dollar a barrel yesterday to $ 109.92 dollars, thanks to expectations that the budget crisis in the United States will find a solution which would prevent sliding largest oil consumer in the world toward a recession.
Brent crude rose $ 1.05 to $ 109.89 a barrel. U.S. crude rose eight cents to 88.01 dollars.
World stocks rose to the highest level in 17 months and the euro rose thanks to growing investor confidence in the conclusion of an agreement on spending and taxes in the United States prior to the deadline for the end of the year.
Said Christopher Bellew of Jefferies Bach “There is some optimism about the outlook for the U.S. and the dollar fell slightly and this caused high prices, despite the warmer weather in Europe and the belief that a large supply.
Are supporting markets as a result of signs that the European economy may be better than expected. In Germany, the Ifo Institute for Economic Research’s business climate index rose to 102.4 compared with expectations at 102 points.
The price of oil futures U.S. crude closed yesterday due to the optimism of indicators on progress in the talks the U.S. to solve the budget crisis.
The end of the deal on the New York Mercantile Exchange rose U.S. light crude for January delivery settled 73 cents, or 0.84%, to $ 87.93 a barrel, after ranging in scope from 87.21 to $ 88.16. The price of futures contracts for Brent crude over $ settle at $ 1.20 or 1.11% to 108.84 dollars per barrel.
Dollar and Yen
The dollar extended its gains against the Japanese yen falling widely, its highest level in 20 months on expectations that the Bank of Japan reveals about further monetary easing on Thursday.
The dollar rose 0.4% to 84.58 yen on trading platform E. P. S, its highest level since April 2011.
Traders said there targeted options barrier at 84.50 yen and it was activated purchase orders to stop losses as soon as a rising currency above that level. And pointed to another options barrier at 85 yen. The euro also continued its gains to its highest level in 16 months against the yen and the strongest rate in seven and a half months against the dollar, boosted by improved slightly for German business confidence.
The euro and sterling
The gains pushed the euro dollar index to its lowest level in two months. The U.S. currency fell to the lowest price in seven and a half months against the Swiss franc at 0.9107 francs.
The euro rose to 111.93 yen with the long-term investors and speculators to buy the single currency before the end of the year and sell the yen on expectations that the Bank of Japan Samay to facilitate deep for monetary policy in the coming months.
The euro was 1.3273 U.S. dollars with the improving sentiment in the market.
Earlier yesterday Sterling recorded its highest level in three months against the dollar yesterday as investors bought the currency after British inflation data and expectations that the Bank of England will keep interest rates unchanged.
Sterling rose to $ 1.6277, its highest level since Sept. 21, surpassing the barrier options was said at 1.6275 dollars. It is expected to be the next resistance level at its highest level for the month of September 1.6310 dollars.
The euro rose to its highest level in eight and a half months against the dollar and the highest price in two months against the pound yesterday, boosted by improved confidence in Germany and demand for the currency with near the end of the year.
The euro rose 0.5% to $ 1.3294, exceeding the height of the first of May $ 1.3284, its highest level since early April, but without touching the options barrier at 1.3300 dollars. Traders talked about buying a regular in the euro by long-term investors.
The currency rose to 81.58 pence against the pound, the strongest price since October 22. London