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The dollar rose sharply in the ECB Policy

New York (Benchmark News) – US dollar exchange rate rose more than one percent against the euro on Thursday (8/12/2016), after the European Central Bank (ECB) decided to extend the asset purchase program until the end of next year.

The ECB said on Thursday that it will extend the quantitative easing program until December 2017, but will reduce purchases to 60 billion euros (64 billion dollars) per month. Current asset purchase of 80 billion euros (85 billion US dollars) per month, which will end in March 2017 before the decision.

The euro plunged against the greenback 1.31 percent during the session after the announcement of the ECB. The dollar index, which tracks the greenback against six major currencies, rose 0.93 percent to 101.160 in late trading.

On the side of the US economy, in the week ending December 3, the introduction to the initial jobless claims reached a seasonally adjusted 258,000 10,000, down from the previous week’s level was revised yet, the Labor Department reported on Thursday.

In late New York trading, the euro fell into 1.0611 dollars from 1.0752 dollars, and pounds United Kingdom slumped to 1.2573 dollars from 1.2615 dollars. Australia dollar dropped to 0.7458 dollars from 0.7476 dollars.

The dollar bought 114.10 Japan yen, higher from 113.95 yen in the previous session. The dollar rose in thin into Switzerland from 1.0075 francs 1.0169 francs in Switzerland, and falls into a 1.3190 dollars from 1.3234 dollars in Canada….(Red)

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