Strengthened over the Yen, the Euro weakened against the US Dollar

NEW YORK, KOMPAS.com -euro exchange rate strengthened against the yen but weakened the u.s. dollar on Friday (17/8/2012) New York time. The Euro strengthened amid optimism that Europe's leaders are getting closer to an agreement to resolve the debt crisis in the euro zone.

The Euro rose 0.1 percent to 98,13 yen after earlier touching 98,41 which is the highest rate since July 6, 2012. However, the euro weakened 0.2 percent to 1,2334 US dollars. The Yen weakened to the fifth day of its own against the US dollar which dropped 0.3 percent to 79,56.

Rise of the euro for yen came after Chancellor of Germany Angela Merkel supports plan European Central Bank President Mario Draghi to lower the cost of loan in the indebted countries.

On 2 August, Draghi said, the central bank is likely to buy government bonds in order to lower the costs of loans in a number of countries, such as Italy and Spain, with a number of requirements.

On the other hand, the euro weakened the u.s. dollar along with bonds that grow most expensive Germany in two months than U.S. debt equals.

"(The Euro was supported by the suggestion that the ECB) will buy bonds as soon as possible after any who come to the European Financial Stability Fund to ask for help," call Kit Juckes, head of foreign exchange Research Societe General SA, in a telephone interview with Bloomberg.

The U.s. Dollar Weakened, Oil Prices Down

NEW YORK, KOMPAS.com -crude oil price in New York, Monday or Tuesday (local time) (21/8/2012) morning down with thin numbers because of Germany's Central Bank would not support a plan that would do the European Central Bank to resolve the crisis in the euro zone, and the u.s. dollar, which weakened against the euro.

Price of West Texas Intermediate crude for September delivery slipped 4 cents to a US dollar 95,97 per barrel, on the New York Mercantile Exchange. However, in intraday trading, oil contract was touching 96,53 US dollars which is the highest price since May 11, 2012.

Brent oil price for the determination of October down 1 cents to 113,70 US dollars per barrel, the ICE Futures Europe exchange based in London. Germany's Central Bank, the Bundesbank, criticized the European Central Bank's plan to buy government bonds are infinite. That plan would have done European Central Bank efforts to resolve the crisis in the region.

On the other hand, the u.s. dollar weakened against the euro in line with the statement of the Foreign Minister Dimitris Avramopoulos said Greece, Greece will be eligible for the sake of fiscal get bailouts.

The Euro rose 0.1 per cent to 1,2346 US dollars. Rise of the euro helped oil prices did not come down significantly. "The Bundesbank Statement indicates that there is still much disagreement regarding how to deal with the debt crisis in Europe," call Phil Flynn, senior market analyst at Price Futures Group in Chicago.