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Forex markets quiet ahead of Easter holiday

Friday, March 25, 2016 - 07:00

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Major currencies were little-changed on Thursday in foreign exchange trading ahead of the Easter weekend, when many share and commodity markets will be shuttered on Friday and Monday.

[NEW YORK] Major currencies were little-changed on Thursday in foreign exchange trading ahead of the Easter weekend, when many share and commodity markets will be shuttered on Friday and Monday.

The yen eased a little against the euro, to 126.18, and on the dollar, to 112.88, while the pound was a tad stronger.

The key euro-dollar rate was barely changed at US$1.1179 per euro, despite more hawkish talk from officials of the Federal Reserve that could point to an interest-rate hike in April or June.

"The wait for the next US rate hike may not take as long as previously expected, buoying the dollar, while the jury remains out over whether lending rates in Europe have hit bottom," said Joe Manimbo, an analyst at Western Union.

Meanwhile, China's renminbi added to its week-long slide, hitting 6.5153 per dollar. The currency was trading at 6.4701 at the beginning of the week.

AFP

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