On currency markets the euro soared to fresh heights on Friday as a reluctance by investors to pour funds into the U.S further weakened the dollar
Published:
24 July 2002 y., Wednesday
Traders are selling dollars expecting more falls on Wall Street equity markets. This week the euro has continued to climb after breaking through the highly significant parity level on Monday trading just above 1 dollar 1 cent on Friday.
The greenback has weakened sharply since January, amid increasing concerns at the country's ability to fund its huge current account deficit and effectively balance its books. Experts say the U.S relies heavily on capital flowing in from abroad to offset its huge trade imbalance. Any sign U.S. assets whether in the form of companies or shares for example are losing their appeal makes the dollar extremely vulnerable although many had long argued it was overvalued. But economists are concerned at the both the speed of the dollar's fall and euro's rise.
Šaltinis:
EuroNews
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An aviation agreement has been signed today by the European Union and the Vietnamese authorities which will remove nationality restrictions in the bilateral air services agreements between EU Member States and Vietnam.
more »
The European Investment Bank marked the 50th anniversary of the Republic of Cyprus and its 30 years of activity in the country with a public ceremony celebrating the signature of a total of EUR 180 million for urban environment.
more »
In response to the financial crisis, the Commission has put forward legislative proposals to strengthen and expand existing tools for coordinating economic and fiscal policy in the EU.
more »
In the first meeting of the SME Finance Forum, possible means to improve the current situation of access to finance were discussed, such as the introduction of a grace period for firms in difficulties, the involvement of credit mediators and improved loan guarantees.
more »
The EU budget is no simple matter, but then no budget ever is.
more »
Parliament will be crucial in avoiding a “lowest common denominator” approach when helping to design the EU's new economic governance architecture, ECB president Jean-Claude Trichet told the Economic and Monetary Affairs Committee on Monday.
more »
With a multitude of language-related events taking place on or around 26 September, the main themes for this year's European Day of Languages are business and jobs.
more »
The EU disbursed today € 1.15 billion to Romania, the third instalment of a € 5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »
The European Investment Bank has agreed to lend GBP250 million for the replacement, reinforcement and expansion of the gas distribution networks operated by Scotland Gas Networks and Southern Gas Networks.
more »
The bargaining positions of all players in the human food chain must be rebalanced, and fair competition enforced by law, to ensure fair returns to farmers and price transparency to consumers, says Parliament in a resolution voted on Tuesday.
more »