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    Euro up to 32-month high against US dollar

    Geopolitical tension led to depreciation of the dollar

    Baku. 29 August. REPORT.AZ/ The rate of main currency pair euro/dollar has exceeded 1.20 USD/EUR.

    Report informs, it caused by North Korea's missile launch. Notably, missile launched from North Korean capital, Pyongyang passes through Japan and fell to the Pacific Ocean.

    The geopolitical tension has had a negative impact on the US-dollar. The US government has repeatedly warned North Korea about this.

    The euro rate started to increase at the end of last week after the “soft speech” by chairperson of the US Federal Reserve System Janet Yellen at Jackson Hole Economic Policy Symposium on Friday, August 25. Thus, the rate declined to 1,18 USD/EUR level and after the $ 40 bln. damage to the U.S. economy by Tropical storm Harvey the exchange rate rose to 1,20 USD/EUR.

    Analyst for Bank of Tokyo Mitsubishi UFJ in Singapore Teppei Ino said due to the geopolitical tension dollar may continue to depreciate against Japanese Yen: “The situation is not expected to get better soon. We must be ready for every event."

    Notably, the USD / EUR exchange rate is currently at 1.2030, which is the highest threshold since January 1, 2015.

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