Euro Mostly Strong On Tuesday, Tuesday, May 15, 2007 2:05:50 PM
The euro was varied in action on Tuesday afternoon against its world counterparts. In general, the euro moved as the Euro-Zone reported on its economy growth for the first quarter.The euro rose against the dollar in trading on Tuesday. The advance took the currency to a mark of 1.3594 by the mid-afternoon. On the whole, the European currency is at a weekly high.
In trading with the sterling, the euro saw mixed action on Tuesday. The currency moved between a low of 0.6845 and a high of 0.6854. In general, the currency is at a weekly high.
Versus the yen, the euro climbed steadily in Tuesday`s action. The advance brought the euro to a mark of 163.58 by the mid-afternoon action. Overall, the currency is at a multi-year high.
Preliminary estimates from the Eurostat revealed on Tuesday that the 13-nation economy grew 3.1% on year in the first quarter, slightly above the 3.0% expected. However, the pace of expansion slowed from 3.3% witnessed in the fourth quarter of 2006.
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posted by Kalin Tasev @ 12:14 PM
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