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Euro: New Record High vs. the Dollar
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| Parent(s) |
Issue
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| Contributor | Servo |
| Last Edited | Servo Dec 30, 2003 01:04am |
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| Category | News |
| Media | News Service - Reuters |
| News Date | Tuesday, December 30, 2003 06:00:00 AM UTC0:0 |
| Description | The euro powered to fresh record highs against the dollar on Monday, rising above the psychological $1.25 level, as short term traders capitalized on a holiday-thinned market to give the dollar a further beating.
The euro rose more than half a percent to $1.2511 in the European midsession, bringing its gains since the start of the year to more than 19 percent.
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"The market remains thin so moves are exaggerated but you can't get away from the underlying problems that are surrounding the dollar, particularly the current account deficit," said Paul Robson, international economist at Bank One.
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