Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact

Symbol Name
Click for Symbol Help

Euro Rises To Two-Month High Vs Dollar, Nears $1.36

Wall Street Journal - Jan 21, 2011

The euro rose to a two-month high against the dollar Friday, knocking on the door of the psychologically key $1.36 mark, as a reading of German business sentiment soared to its strongest-ever level.

Gains in U.S. stocks, propelled by strong corporate earnings, helped the euro and other riskier currencies keep a buoyant tone.

"The vibe in the market is investors and traders are much more optimistic," said Kathy Lien, director of currency research at GFT Forex in New York.

After a key reading of German business sentiment came in at its strongest-ever level, "the market's really happy about the fact that the core [of the euro zone] is still supporting the rest of the periphery countries," which struggle under the weight of stressed sovereign debt, she said.

The common currency marched above the $1.3550 mark to reach its strongest level since Nov. 23 on the back of the strong and better-than-expected January confidence reading posted by the research institute Ifo. By late morning trading, the common currency was within striking distance of $1.36, trading at $1.3585 from $1.3473 late Thursday, according to EBS via CQG.

Read Full Article from Wall Street Journal

- Posted: 2011-01-21 11:09:52

 More Stock Investor Place Top Stories  
Anglo platinum arm sheds 14,000 jobs, risking unrest
Apple falls below $500
US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales
Recovery in U.S. Saving 8 Million Underwater Homeowners
Facebook shares rise in buildup to mystery event, earnings

 Stock Investor Place Top Stories Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008

Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise