Out of bounds

Out of bounds



London
Swiss franc falls to the lowest level in 18 months against the euro
fell the Swiss franc to its lowest level in 18 months against the euro on Wednesday, with the tendency of some investors to sell the currency in light of the strong gains that the euro gains against rivals from other major currencies recently.
The franc fell 0.6 percent to 1.1155 francs per euro, its lowest level since February 2016. The Swiss currency is heading for its biggest two-day loss since April this year, down more than 1 percent.
The franc also fell 0.7 percent against the US currency to $ 0.958.
The euro rose more than 6 percent against the yen last month.
The dollar index, which tracks the performance of the greenback against a basket of currencies weighted by trade, rose 0.1 percent to 94.10 after falling to 93.639 on Tuesday, its lowest level in 13 months.
The euro was broadly flat at $ 1.1642 after rising on Tuesday to its highest level since August 2015 at $ 1.17125, slightly below a two-and-a-half-year high, supported by better-than-expected German business results.



Doha
Qatar may adopt a more independent monetary policy if necessary
A Qatari currency expert said his country may adopt a more independent monetary policy than US policy if necessary to counter economic measures taken by other Gulf states.
Like most oil-exporting Gulf Arab states, Qatar pegs its currency to the US dollar, forcing its central bank to emulate US Federal Reserve interest rate decisions.
But the decision of Saudi Arabia, the United Arab Emirates, Bahrain and Egypt last month cut off diplomatic relations and transmission lines with Qatar, other than the country's economic climate.
Asked whether Qatar now needs a more independent monetary policy to prevent potential capital outflows, "it depends on the internal assessment of the situation by the central bank," Khalid al-Khater
said, but it is technically possible if the monetary authority sees this decision ... Such as raising interest rates on deposits and other precautionary measures. "
Al-Khater, who was the architect of Qatar's monetary policy during the 2008 global financial crisis and is currently on leave from the Central Bank for research at the University of Cambridge, said his views did not reflect The point of view Toxicity to the Central Bank.
But he pointed out that if Qatar deviated from US monetary policy, it would not be the first time.
In 2008, Qatar Central Bank decided not to follow an unprecedented series of US interest rate cuts that reached a key interest rate close to zero. Instead, Qatar kept its deposit rate at a much higher level of 2 percent for more than two years, helping stabilize the money market and contain inflation.


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