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Investments / Markets
The euro fell slightly against the dollar during the New York session on Monday, weakened by remarks considered cautious by the President of the European Central Bank while the pound sterling was suspended at the vote of the British Parliament on Brexit.
Around 20H00 GMT (21H00 in Paris), the euro was worth 1,1333 dollar, against 1,1337 dollar Friday at 22:00 GMT.
The single currency started to retreat when Mario Draghi, in a hearing in the European Parliament, estimated that it was necessary to continue the monetary support policy in order to maintain sufficient inflation in the euro zone.
"These words are not very new but they have been interpreted by the market as particularly cautious," said Sireen Harajli of Mizuho.
After an indicator that entrepreneurs' morale had dropped again in November, "they reinforced the idea that growth may be a snap," she added.
The euro had earlier in the day enjoyed some optimism on the Italian file, while the Italian Deputy Prime Minister Luigi Di Maio said he was open to a decrease in the level of deficit compared to what was initially planned.
Italian Prime Minister Giuseppe Conte said on Saturday night that the country was hopeful that dialogue with the Commission would avoid sanctions.
The appeasement between Rome and Brussels, which rejected the budget recently presented by Italy, "helps the euro," according to Kit Juckes, an badyst for Societe Generale.
Similarly, market players were rebadured by the agreement on Brexit sealed Sunday between the European Union and the United Kingdom after months of negotiations.
But this compromise must still receive the green light from the British Parliament and "until we have more clarity on the subject, investors will remain on their guard against the British pound," said Harajli.
Prime Minister Theresa May on Monday called for more than skeptical British MPs to back the divorce agreement reached with the European Union in the vote on 11 December.
"Will these deputies accept the text Theresa May will she stay Prime Minister Will there be a second referendum? It is very difficult to predict which scenario will prevail," said Ms. Harajli.
The dollar, generally regarded as a safe haven, had in turn suffered from a renewed appetite for risk in the wake of the sharp rise in the stock markets, in Asia as in Europe and Wall Street, and the rebound in oil prices.
Investors, however, kept an eye on the meeting of the G20 to be held Friday and Saturday in Buenos Aires and could lead to progress on the commercial front between Washington and Beijing.
They will also monitor the release on Wednesday of the minutes of the last meeting of the monetary policy committee of the US Central Bank and a speech on the same day of its president Jerome Powell.
Around 8:00 pm GMT on Monday, the greenback was worth 113.62 yen, against 112.96 yen on Friday at 2200 GMT.
The euro was up against the yen at 128.76 yen for one euro against 128.06 yen on Friday night.
The Swiss franc fell against the euro, 1.121 million Swiss francs for a euro Monday, against 1.1311 Friday, and against the greenback, 0.9990 Swiss francs to the dollar against 0.9974 Friday.
The Chinese currency finished at 6.9408 yuan for one dollar, against 6.9485 around 15.30 GMT Friday.
The ounce of gold was worth $ 1,222.22 against $ 1,223.19 Friday at 22:00 GMT.
Finally, bitcoin traded for $ 3,743.54, against $ 4,260.57 Friday, according to figures compiled by Bloomberg. It plunged below $ 4,000 Sunday night before falling Monday up to $ 3,522.58, its lowest level since September 2017.
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