This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6179552.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Dollar loses ground against euro | Dollar loses ground against euro |
| (about 1 hour later) | |
| The dollar has plunged to its lowest level against the euro since April 2005 amid concerns for the US economy. | The dollar has plunged to its lowest level against the euro since April 2005 amid concerns for the US economy. |
| The euro surged to $1.30 against the dollar, with many other currencies following suit. | The euro surged to $1.30 against the dollar, with many other currencies following suit. |
| Sterling rose almost 1% to $1.93, the yen hit a two-month high and Russia's rouble rose to a seven-year high. | Sterling rose almost 1% to $1.93, the yen hit a two-month high and Russia's rouble rose to a seven-year high. |
| Analysts have voiced concerns about the US economy after the White House downgraded its growth forecasts amid a sharp slowdown in the housing market. | Analysts have voiced concerns about the US economy after the White House downgraded its growth forecasts amid a sharp slowdown in the housing market. |
| Meanwhile, expectations that the European Central Bank is once again about to raise interest rates gave a lift to the euro. | Meanwhile, expectations that the European Central Bank is once again about to raise interest rates gave a lift to the euro. |
| Recent figures showing an unexpected rise in German business sentiment - its seventh quarterly rise in a row - also helped. So did French data showing that business confidence held at five-year highs in November. | Recent figures showing an unexpected rise in German business sentiment - its seventh quarterly rise in a row - also helped. So did French data showing that business confidence held at five-year highs in November. |
| However, traders added that thin trade as a result of the US Thanksgiving holiday might have benefited the euro. | However, traders added that thin trade as a result of the US Thanksgiving holiday might have benefited the euro. |
| "For the time being, the news flow is favouring the euro. If we close above $1.30 today, the key will be if we reject all of this as a Thanksgiving phenomenon or not," said Ian Gunner, head of foreign exchange research at Mellon Bank. |