The Citizen
Tuesday February 9 2010 / 121 days to kickoff

news
Skip Navigation LinksHome



articles you have browsed





Published: 2/27/2008 13:17:00
Dollar plunges to fresh record euro low

LONDON (AFP)

A woman in London holds handfuls of euro and US dollar bank notes. The euro's record strength is stoking tension among the 15 countries sharing the currency, with some much more comfortable than others with its ascent on foreign exchange markets.
A woman in London holds handfuls of euro and US dollar bank notes. The euro's record strength is stoking tension among the 15 countries sharing the currency, with some much more comfortable than others with its ascent on foreign exchange markets.

The dollar plunged to another record low against the European single currency on Wednesday as a stream of negative US data undermined the greenback, analysts said.

In morning deals, the euro surged as high as 1.5088 dollars, after smashing through the 1.50 barrier for the first ever time in US trade on Tuesday.

"The euro is trading above 1.50 against the dollar for the first time since the eurozone came into existence in January 1999," said Global Insight analyst Howard Archer.

"This is primarily a consequence of the dollar being undermined by further weak US data heightening concerns over the US economy and reinforcing expectations of additional interest rate cuts by the Federal Reserve."

© 2008 AFP

27/02/2008 11:06:38 UST



WeyniDeysel

Have your say

Name:
Email: (required, not published)
   
Notify me by email of new comments on this article

 
All comments on this website are moderated. This process can take up to 24 hours. Our moderation policy can be found here. If used a comment is not edited except to correct spelling and grammar. Some comments may be used in the print edition of The Citizen, at the discretion of the letters editor.


Search the web with Google

Add to Google Add our RSS feeds to your Google page
Print friendly format / Mail this article / Bookmark this article / Write a letter about this article / / Subscribe to The Citizen


latest news

Protesters burn Mpuma library

JOHANNESBURG - The library in Balfour’s Siyathemba township went up in flames on Tuesday afternoon during a protest that appears to have shifted from labour recruitment demands to an insistence the local mayor resign.

Medical waste to be cleared from Joburg hospital

JOHANNESBURG - Medical waste piled up at the Charlotte Maxeke Johannesburg Academic Hospital will be cleared, chief executive officer Barney Selebano said on Tuesday.

SA Bank ‘phishing’ escalates

JOHANNESBURG - The number of schemes to fraudulently obtain confidential information from internet banking users has grown, the South African Banking Risk Information Centre (SABRIC) said on Tuesday.



latest sport

Favourites Speedy, Stander show why

JOHANNESBURG - Nothing was going to stop the pre-race favourites for the first MTN Cross Country mountain bike race event of the year, and last Saturday outside Alberton, Burry Stander (Specialized/MR Price) and Yolandé Speedy (MTN-Energade) dominated the event, just as they did a year before.

Tough task for Ireland in Paris

PARIS – Six Nations Grand Slam holders Ireland head for what is arguably their toughest test in their bid to become only the sixth team to record back to back Slams when they play France in Paris next Saturday.

Schalk is fit for Super 14 opener

CAPE TOWN – The Stormers will enter the final build-up week to the beginning of the Super 14 in a good frame of mind after Schalk Burger was declared fit to lead the side in the competition opener against the Lions in Joburg on Saturday.



Search our archive