Dollar jumps on European official’s comments

The euro fell 0.5% on the day against the dollar after the EU’s Economic and Monetary Affairs Commissioner Joaquin Almunia said euro strength would be discussed when officials meet in Istanbul at the weekend.

His comments followed statements from finance officials around the world in the past week on their discomfort with their currencies’ strength against the dollar, which has tumbled around 10% against a currency basket in the past six months.

CNN Money

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza