Euro holds gains against dollar
The euro is holding gains against the dollar following strong earnings reports from European banks and a new warning that the US faces a long road back to economic health.
By Agencies |
BERLIN: The euro is holding gains against the dollar following strong earnings reports from European banks and a new warning that the US faces a long road back to economic health.
The 16-nation currency bought $1.3173 in morning European trading Tuesday, up from $1.3170 in New York late Monday.
Worsening US economic data have investors focusing on weakening growth at home, making the Japanese yen the safe-haven currency of choice.
Federal Reserve Chairman Ben Bernanke said Monday the worst of the financial crisis is behind the US,``but we have a considerable way to go to achieve a full recovery in our economy.''
The British pound rose Tuesday to $1.5922 from $1.5893. The dollar slipped to 86.39 yen from 86.52 yen.
The 16-nation currency bought $1.3173 in morning European trading Tuesday, up from $1.3170 in New York late Monday.
Worsening US economic data have investors focusing on weakening growth at home, making the Japanese yen the safe-haven currency of choice.
Federal Reserve Chairman Ben Bernanke said Monday the worst of the financial crisis is behind the US,``but we have a considerable way to go to achieve a full recovery in our economy.''
The British pound rose Tuesday to $1.5922 from $1.5893. The dollar slipped to 86.39 yen from 86.52 yen.
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