Euro Gains On Other Majors, Tuesday, May 29, 2007 11:44:31 AM
The euro saw strength on Tuesday amid the release of data showing that the Euro Zone current account surplus beat expectations in March. The European currency reached a record high against the yen and also climbed on the dollar and pound.The euro touched its highest level in more than a week against the dollar on Tuesday morning in New York. Around 8:30 am Eastern Time, the European currency climbed to 1.3518, its best level in 9 days. It slipped off of that a little after 10 a.m. after the release of consumer confidence data in the U.S.
The euro advanced against the sterling in early-morning trading in New York. The European currency climbed beginning at around 5 a.m. ET. It stabilized for a few hours starting at around 8 a.m., touching a 6-day high of 0.6807 at 10 a.m. ET. The morning also saw the release of data showing that UK loan approvals for house purchases fell in April at 4:30 am Eastern Time.
The euro climbed to another record high against the yen on Tuesday morning in New York. The European currency climbed sharply throughout the morning. It touched as high as 164.26 at 9:40 a.m. ET. It was stable for several hours in the late morning.
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posted by Kalin Tasev @ 10:19 AM
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