Weakness in the dollar yesterday helped propel the euro to its highest level against the greenback in almost three years
Published:
8 June 2003 y., Sunday
Currency traders said fears about worsening relations between the US and North Korea weighed on the dollar, with the impact on the exchange rate exaggerated by very light holiday trading.
The euro reached $1.0364 on European markets before slipping back to $1.0341 in afternoon trade. The currency has now risen 17 per cent from a low of around 86 US cents in February.
The pound appreciated marginally against the dollar, again in light trade, up 0.0022 at $1.5979. The Swiss franc also showed gains.
City analysts said the euro is likely to fall amid stumbling demand in the depressed euro-zone economies. European economic affairs commissioner Pedro Solbes yesterday confirmed that gloomy outlook as he predicted Germany’s sluggish economy may lead the European Commission to trim its forecasts of euro zone growth.
According to reports from Spain, Solbes said the commission’s 0.8 per cent growth forecast for 2002 "could be revised slightly downwards given the evolution of the German economy".
Despite the prediction, Solbes repeated the commission's forecast of 1.8 per cent growth in the euro area in 2003.
Šaltinis:
thescotsman.co.uk
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In its first meeting in 2010, the Gas Coordination Group, under the chairmanship of the Commission, has focused today on the assessment of the situation on security of gas supply in the EU-27 and countries of the Energy Community and discussed priorities for the work of the Group in 2010.
more »
Luc Van den Brande, President of the EU Committee of the Regions (CoR), has used his first meeting with the President of the European Council, Herman Van Rompuy, to underline the importance of consultation between local, regional and national authorities.
more »
Basile Nkwesi, Directeur Commercial of Multiprint, speaks for dozens of frustrated business managers in this busy enterprise center when he talks about Cameroon’s costly and unreliable electricity.
more »
During 2009, over 2400 new corporate clients, whose total number currently exceeds 16 thousand, began using Bank SNORAS services.
more »
In 2009, the European Investment Bank (EIB) provided EUR 2.5 billion in 16 credit lines for financing the investment projects of SMEs (EUR 1 955 million) and local authorities (545 million) in Spain.
more »
In 2009, the number of counterfeit euro coins removed from circulation was 172 100, down from 195 900 the year before.
more »
Haiti began participating in the International Monetary Fund’s General Data Dissemination System on December 28, 2009, marking a major step forward in the development of its statistical system.
more »
According to the data of NASDAQ OMX Vilnius Stock Exchange, the price of Bank SNORAS registered ordinary shares grew by more than 2.5 times.
more »
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Cadbury PLC of the UK by Kraft Foods Inc. of the US by way of public offer.
more »
Statistics Lithuania informs that construction input prices inNovember 2009, against October, dropped by 0.5 percent.
more »