The euro gained ground against the dollar late on Friday after getting a lift from a better-than-expected improvement in the Ifo business confidence survey in Germany
Published:
20 December 2004 y., Monday
The euro gained ground against the dollar late on Friday after getting a lift from a better-than-expected improvement in the Ifo business confidence survey in Germany.
In late European trading, the single European currency was at $1.3283, up from $1.3237 late on Thursday in New York. The dollar stood at 104.28 yen compared with 104.76 on Thursday.
The euro shed earlier gains against the dollar as investors continued to close out positions and book profits ahead of the year-end. "Year-end profit-taking and position squaring together with the deterioration in the technical outlook suggests the euro will remain under pressure against the dollar in the near-term," said Hans Redeker, global head of FX strategy at BNP Paribas.
The euro, which had fallen strongly on Thursday against the dollar on a smaller-than-expected third quarter US current account deficit, climbed as high as $1.3317 early Friday on news that a key indicator of German business confidence rose to its highest level in eight months.
On the London Bullion Market, the price of an ounce of gold stood at $438.90 against $439.50 late on Thursday.
Šaltinis:
AFP
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
President of the Republic of Lithuania Dalia Grybauskaitė welcomed the decision taken by the U.S. Government to transport shipments for the international mission in Afghanistan by transit via the Klaipėda Seaport.
more »
EU Solidarity Fund aid to repair storm damage in France and Portugal was approved by the Budgets Committee on Thursday.
more »
The European Investment Bank and the Government of Samoa formally agreed to support the rehabilitation and upgrade of independent water schemes in the Pacific island state under a EUR 250,000 technical assistance programme.
more »
Steps to overhaul the European Union's flagship single market were discussed on Tuesday (9 November) by MEPs and interested parties.
more »
Strategy to secure a sustainable EU energy supply and support economic growth over the next decade.
more »
EU funding to help 850 former workers in the aircraft maintenance industry around Dublin find new jobs was approved by the European Parliament on Thursday.
more »
Saffron farmers in western Afghanistan hope to oust opium as a harvest crop.
more »
The European Commission has approved an application from Poland for assistance from the European Globalisation adjustment Fund (EGF).
more »
New plans for EU industry to create jobs while keeping manufacturing in Europe.
more »
The European Commission has approved two applications from Spain for assistance from the EU Globalisation Adjustment Fund (EGF).
more »