Euro/dollar 7-mth low over euro zone fiscal woes |
Reuters - Feb 4, 2010 |
The euro plunged to a fresh seven-month low against the dollar on Thursday amid growing concerns over the fiscal health of debt-laden euro zone countries.
European Central Bank President Jean-Claude Trichet predicted many members in the bloc will have large, sharply rising fiscal imbalances.
The ECB chief spoke at a news conference after the ECB left its benchmark lending rate unchanged at 1 percent. Trichet said high public debt and deficits would place additional burdens on monetary policy. For details see [ID:nECBNEWS]
Worries over debt levels in Spain and Portugal have increased as investors speculate the two countries may face budget deficit and debt problems like those of Greece. [ID:nLDE6121AC]. Such concerns helped lift the relatively safer haven U.S. dollar and yen.
Read Full Article from Reuters
- Posted: 2010-02-04 10:57:44
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