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Currencies steady as Yellen confirms Fed eyeing December

Thursday, September 29, 2016 - 06:38
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Major currencies were steady despite a tentative Opec deal in Algiers to curb output that sent oil prices up more than 5 per cent and strongly boosted stock markets.

[NEW YORK] Major currencies were steady despite a tentative Opec deal in Algiers to curb output that sent oil prices up more than 5 per cent and strongly boosted stock markets.

Federal Reserve Chair Janet Yellen's reiteration to Congress that most of the Fed's policymaking board expect a rate rise by December also failed to move the US currency.

At 2100 GMT the dollar was unchanged from Tuesday at US$1.1217 per euro, and a bit higher against the yen at 100.70 yen.

The British pound meanwhile edged higher on the dollar, to US$1.3022.

The main beneficiary of the oil price move was producer Canada, whose currency jumped 1.1 per cent to C$1.3089 per US dollar.

AFP