Friday, May 25, 2007

Euro Firms Up Against Other Majors Friday Morning, Friday, May 25, 2007 7:15:01 AM

The euro was generally stronger to other majors Friday morning in New York on data showing that German import prices grew 0.5%, beating expectations for zero growth.

The euro improved slightly to the dollar in early dealing Friday morning in New York and stayed near 1.344 ahead of a report on April existing home sales in the US. Economists expect existing home sales to come in roughly flat compared to the previous month.

The euro gained ground against the yen Friday morning in New York, rising to 163.50 from 162.50 late Thursday evening. Investors considered data showing Japan`s core inflation fell at a slower pace in April, boosting expectations that the Bank of Japan will lift interest rates in coming months.

The euro firmed up a bit versus the sterling Friday morning, moving up from .6758 to fetch .677 at 7:00 am ET. Trading took place amid the release of data showing the UK economy grew 0.7% sequentially in the first quarter.
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