Wednesday, April 25, 2007

Euro Edges Toward Record Highs Against Dollar And Yen,Wednesday, April 25, 2007 6:50:31 AM

The euro inched closer to record levels against the dollar and yen Wednesday morning in New York after a closely watched survey indicated German business sentiment improved more-than-expected in April.

The euro approached a two-year old record high of 1.3665 against the dollar Wednesday morning in New York. The euro fetched 1.3654 in early dealing, up from an overnight level of 1.363. Market players await U.S. durable goods data and the Fed`s Beige Book later in the day.

The euro edged towards a record high against the yen Tuesday morning in New York, rising to 161.98 from an overnight level of around 161.50. Data released overnight showed Japan`s trade surplus hit a record high in March.

The euro hovered around a near-term high from the previous session Wednesday morning in New York, fetched .6812 at 7 am ET. Traders considered data showing that the U.K. real GDP beat expectations to grow 0.7% in the first quarter of 2007.
Copyright © 2007 All Rights Reserved.


Post a Comment

<< Home