The euro hit a four-year high on Monday after U.S. Treasury Secretary John Snow said after the G7 meeting in France that recent currency realignments were "fairly modest"
Published:
19 May 2003 y., Monday
The euro hit a four-year high on Monday after U.S. Treasury Secretary John Snow said after the G7 meeting in France that recent currency realignments were "fairly modest," reinforcing speculation he is happy with a weak dollar.
The euro was quoted in Tokyo at $1.1657/62 after hitting a four-year high of $1.1688. The single currency had ended U.S. trade on Friday around $1.1600.
Snow's comments also sent the dollar down to 115.43 yen from 115.87/95 in late U.S. trade. It bounced back a little to 115.62/67 on wariness that the yen's strength would invite intervention by Japan, which is worired about exports.
Ministers from the Group of Seven richest nations omitted reference to foreign exchange in their statement after a meeting in Deauville, France over the weekend.
Analysts said this indicated the ministers were not worried about recent currency volatility and that the trend towards a weaker dollar would be maintained.
Šaltinis:
cnn.com
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