Reuters: US Dollar Report: FOREX-Euro rises vs dollar on ECB collateral news

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FOREX-Euro rises vs dollar on ECB collateral news Jun 22nd 2012, 14:08 Tweet Share this Email Print Fri Jun 22, 2012 10:08am EDT * Euro hits session highs on ECB news * ECB eases collateral requirements NEW YORK, June 22 (Reuters) - The euro firmed against the U .S. d ollar on Friday after the European Ce ntral B a nk said it would accept a wider range of collateral, including assets with lower quality in attempts to ease strains on the region's banking sector. The changes include moves to accept residential mortgage-backed securities, securities backed by loans to small and medium-sized firms, auto loans, leasing and consumer finance ABSs and commercial mortgages rated as low as 'triple B'. . The euro recovered some of Thursday's losses o n the news even though the speculation about the ECB's collateral was already being discussed in the market on Thursday. The euro hit the ses sion's pea ks of $1.2583 and was l a st at $1.2565, up 0.2 percent, af ter falling to it's lowest levels in about a week on Thursday. "Anytime you can get the ECB more involved in this process, the market views that as a positive development. They're the ones who can print the money," said Bob Sinche, global head of currency strategy at RBS Securities in New York. "The official anouncement hit the market in an exceptionally quiet morning." Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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