Currencies steady as Yellen confirms Fed eyeing DecemberMajor currencies were steady despite a tentative OPEC deal in Algiers to curb output that sent oil prices up more than 5 percent and strongly boosted stock markets. (Alex Wong/Getty Images/AFP) / mb.com.ph Federal Reserve Board Chair Janet Yellen testifies during a hearing before the House Financial Services Committee September 28, 2016 on Capitol Hill in Washington, DC. (Alex Wong/Getty Images/AFP) / mb.com.phFederal Reserve Chair Janet Yellen’s reiteration to Congress that most of the Fed’s policymaking board expect a rate rise by December also failed to move the US currency. At 2100 GMT the dollar was unchanged from Tuesday at $1.1217 per euro, and a bit higher against the yen at 100.70 yen. The main beneficiary of the oil price move was producer Canada, whose currency jumped 1.1 percent to Can$1.3089 per US dollar.

Source: Manila Bulletin September 28, 2016 21:45 UTC