2014.09.0805:06:14UTC+00US dollar, euro in tight range as sterling tumbles

The US dollar and the euro traded in a close range Monday following the European Central Bank introduced sudden stimulus measures.

Against the Japanese yen, the greenback traded at ¥105.05, from Friday’s ¥105.06,

The euro was at $1.2953 and ¥136.08, from Friday’s $1.2951 and ¥136.14.

"The latest ECB policy surprise is likely to drive an even greater 'yield-wedge' between the euro, the dollar and other core currencies in the coming month," said Credit Agricole. 

Credit Agricole added many investors might be motivated to escalate their rebalancing plans on seemingly higher ECB determination to uplift the eurozone’s competitiveness.