Euro climbs vs dollar after ECP credit
The euro has clawed back against the dollar after the European Central Bank made more credit available amid persistent worries about European debt.
By Agencies |
BERLIN: The euro has clawed back against the dollar after the European Central Bank made more credit available amid persistent worries about European debt.
The 16-nation currency traded at $1.2103 early Friday, up from the $1.2095 it bought in New York overnight.
On Thursday the ECB left its interest rate untouched at one percent, but said it would offer banks limited three-month loans to encourage lending. Fears of a freeze in bank lending have driven investors to seek the perceived safety of the dollar.
In other currencies, the British pound rose to $1.4722 from $1.4702 overnight, while the dollar climbed to 91.57 Japanese yen from 91.20 yen.
The 16-nation currency traded at $1.2103 early Friday, up from the $1.2095 it bought in New York overnight.
On Thursday the ECB left its interest rate untouched at one percent, but said it would offer banks limited three-month loans to encourage lending. Fears of a freeze in bank lending have driven investors to seek the perceived safety of the dollar.
In other currencies, the British pound rose to $1.4722 from $1.4702 overnight, while the dollar climbed to 91.57 Japanese yen from 91.20 yen.
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