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
The European Commission has adopted additional legislative proposals today to further strengthen financial supervision in Europe.
more »
The EU has announced plans to regulate the market for derivatives – complex financial products that helped trigger the financial crisis.
more »
New proposals to help EU farmers through the milk price crisis were backed by Parliament on Thursday.
more »
The European Commission and the European Investment Bank (EIB) Group are organising a conference in Brussels on 22 and 23 October to further promote two initiatives designed to increase the use of financial engineering instruments in the framework of cohesion policy.
more »
The biggest thermal insulation production manufacturer in Finland “Finnfoam” has started the construction of a thermal insulation production plant in Kaunas FEZ.
more »
The European Investment Bank (EIB) is providing two loans in Hungary.
more »
Key Western Balkan projects to benefit from new funding EU, IFI financing to focus on infrastructure, SMEs and energy efficiency.
more »
Lithuania, Belarus and China will cooperate in the development of the initiative of the East-West transport corridor.
more »
On October this year AB Bank SNORAS will provide preferential UAB “Guarantee Fund of Agricultural Loans ” purpose loans to farmers and companies, which scope of activity is economic activity and processing of agricultural production.
more »
The European Commission has today approved an application from Austria for assistance under the European Globalisation Adjustment Fund (EGF).
more »