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
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »