Euro hits new two-year high against dollar

Actually it is flirting with a record high.

***




Euro hits new two-year high against dollar

LONDON (AFP) - The euro surged on Friday to 1.3534 dollars, the highest
level since January 3, 2005, on expectations of rising eurozone interest
rates.

They added that the foreign exchange market was jittery ahead of a meeting
of the Group of Seven (G7) financial chiefs in Washington on Friday, when
the health of the global economy and the weakness of the yen are expected to
be in focus.

The single currency later stood at 1.3521 dollars, compared with 1.3480
dollars in New York late on Thursday. The euro dipped to 160.06 yen after
striking an overnight record of 160.87 against the Japanese unit.

The dollar meanwhile fell to 118.38 yen compared with 119.14 late on
Thursday.

"The dollar has been depressed against the euro by the comments of (ECB)
President (Jean-Claude) Trichet yesterday (Thursday) following the monetary
policy meeting of the European Central Bank," said Paul Chertkow, head of
global currency research at The Bank of Tokyo-Mitsubishi in London.

The euro had breached 1.35 dollars on Thursday after the ECB signalled that
it was ready to raise eurozone borrowing costs again in June.

Trichet sent a clear signal that the bank was set to raise its key interest
rates -- already at a five-and-a-half-year high -- still further in June,
after holding rates at 3.75 percent on Thursday.

"Characterising monetary policy as still accommodative, he (Trichet)
underpinned the expectation of another 0.25 point increase in the
refinancing rate in the eurozone before mid-year," Chertkow added.

The euro has been buoyed in recent weeks by favourable interest rate
differentials, analysts said.

In contrast with the ECB, the US Federal Reserve appeared to open the door
to a cut in American borrowing costs last month as it kept rates unchanged
at 5.25 percent.

Market players were cautious on Friday ahead of the G7 meeting amid
speculation that the yen could become a topic of discussion, if only behind
closed doors.

The weakening Japanese yen is causing consternation in European capitals,
where finance chiefs are worried that the yen-euro exchange rate is
penalising eurozone exporters.

"But the chances of strong remarks on a weak yen are very slim this time,"
said Tokyo-based Commerzbank analyst Ryohei Muramatsu.

"And since foreign exchange rates are stable in an orderly manner right
now, there is no need for the G7 to say anything that may possibly disturb
the market," he said.

Ahead of the G7 talks, the dollar could face further selling pressure from
new data in the United States, with the latest US trade balance data and
producer price inflation numbers due later Friday.

The euro was changing hands at 1.3521 dollars, against 1.3480 dollars late
on Thursday, 160.06 yen (160.62), 0.6811 pounds (0.6812) and 1.6364 Swiss
francs (1.6396).

The dollar stood at 118.38 yen (119.14) and 1.2101 Swiss francs (1.2167).

The pound was being traded at 1.9860 dollars (1.9785).

On the London Bullion Market, the price of gold pulled back to 677.25
dollars per ounce, from 678.50 dollars late on Thursday.
Ema

Earl Evleth wrote:

Actually it is flirting with a record high.

***
Euro hits new two-year high against dollar

LONDON (AFP) - The euro surged on Friday to 1.3534 dollars, the highest
level since January 3, 2005, on expectations of rising eurozone interest
rates.


What is the lowest the Euro has ever been against the dollar...???

--
Best
Greg

Gregory Morrow:


What is the lowest the Euro has ever been against the dollar...???

79 cents.
http://www.hwwa.de/Publikationen/Dis...r/2005/321.pdf

Gregory Morrow:

What is the lowest the Euro has ever been against the dollar...???

Here's Euro to 1 US$ through 2004:
http://www.hwwa.de/Publikationen/Dis...r/2005/321.pdf

On Apr 13, 10:32 am, Martin wrote:
On Fri, 13 Apr 2007 15:24:32 GMT, "Gregory Morrow"

wrote:

Earl Evleth wrote:

Actually it is flirting with a record high.

***
Euro hits new two-year high against dollar

LONDON (AFP) - The euro surged on Friday to 1.3534 dollars, the highest
level since January 3, 2005, on expectations of rising eurozone interest
rates.

What is the lowest the Euro has ever been against the dollar...???

Rising eurogenous zones?
--

Martin

Thank you George Bush!

Martin wrote:

On Fri, 13 Apr 2007 15:24:32 GMT, "Gregory Morrow"
wrote:


Earl Evleth wrote:

Actually it is flirting with a record high.

***
Euro hits new two-year high against dollar

LONDON (AFP) - The euro surged on Friday to 1.3534 dollars, the highest
level since January 3, 2005, on expectations of rising eurozone
interest
rates.


What is the lowest the Euro has ever been against the dollar...???

Rising eurogenous zones?


J'acqueloon is now demanding payment in Soviet - era roubles and old DDR
Ostmarken...

--
Best
Greg

On Fri, 13 Apr 2007 16:13:17 +0200, Earl Evleth
wrote:

LONDON (AFP) - The euro surged on Friday to 1.3534 dollars, the highest
level since January 3, 2005, on expectations of rising eurozone interest
rates.

Goodbye european vacation this year. Thanks, GW Bush.

On Fri, 13 Apr 2007 13:37:25 -0400, Viking
wrote:

On Fri, 13 Apr 2007 16:13:17 +0200, Earl Evleth
wrote:

LONDON (AFP) - The euro surged on Friday to 1.3534 dollars, the highest
level since January 3, 2005, on expectations of rising eurozone interest
rates.

Goodbye european vacation this year. Thanks, GW Bush.

Nonsense!

Just save up a few percent more!

You can also plan a trip to non-Euro countries, where the dollar still
has slightly more value than a discarded Kleenex. On my next trip,
costs incurred in Austria and Italy will offset by savings realized in
Croatia and Hungary.

And yes, Bush is a fascist idiot.

- TR

On Apr 13, 8:38 pm, VainGlorious
wrote:
On Fri, 13 Apr 2007 13:37:25 -0400, Viking
wrote:

On Fri, 13 Apr 2007 16:13:17 +0200, Earl Evleth
wrote:

LONDON (AFP) - The euro surged on Friday to 1.3534 dollars, the highest
level since January 3, 2005, on expectations of rising eurozone interest
rates.

Goodbye european vacation this year. Thanks, GW Bush.

Nonsense!

Just save up a few percent more!

You can also plan a trip to non-Euro countries, where the dollar still
has slightly more value than a discarded Kleenex. On my next trip,
costs incurred in Austria and Italy will offset by savings realized in
Croatia and Hungary.

And yes, Bush is a fascist idiot.

- TR

but you save plenty on petrol costs!!

On Fri, 13 Apr 2007 11:38:31 -0700, VainGlorious
wrote:

On Fri, 13 Apr 2007 13:37:25 -0400, Viking
wrote:

On Fri, 13 Apr 2007 16:13:17 +0200, Earl Evleth
wrote:

LONDON (AFP) - The euro surged on Friday to 1.3534 dollars, the highest
level since January 3, 2005, on expectations of rising eurozone interest
rates.

Goodbye european vacation this year. Thanks, GW Bush.

Nonsense!

Just save up a few percent more!

Riiight. 35% more, given the exchange rate, over a vacation in the US.