Euro remains in the green on Monday

With the European Central Bank (ECB) president, Mario Draghi, not talking down the currency and markets speculating the adverse effect of Tropical Storm Harvey on the US’ economy, the euro extended its gains on Monday, hitting its two-and-half-year high against the dollar. 
 
The euro hit USD 1.19, its highest since January 2015. However, later the currency retreated to USD 1.19, higher by 0.1%, its highest since January 2015. The euro zone currency had witnessed a rise of nearly 1% on Friday with the ECB President Mario Draghi speaking on matters concerning world trade and skipping a mention of the euro’s recent strength. The euro had bagged an early lift in comparison to the dollar after Federal Reserve Chair Janet Yellen made no reference of the US’ monetary policy at Jackson Hole.
  
The greenback was lower by 0.2% at 109.18 yen, remaining clear of the four-month low of 108.60. It tanked on August 18. The Swiss franc hit its one-month high of 0.95 franc per dollar earlier in the session. 
 
The franc increased by 0.9% on Friday, while the pound stood at a steady level of USD 1.28 after shortly touching a 13-day peak of USD 1.29. The dollar had largely contributed to Friday’s losses, with the dollar falling by 0.25% against a basket of six major currencies to 92.49.