Euro Shoots Past 1.57 Dollars on Positive German Survey

LONDON -- The European single currency breached 1.57 dollars on Wednesday after a buoyant reading on business sentiment in Germany, the biggest economy in the 15-nation eurozone, analysts said. In European trading, the euro climbed to 1.5717 dollars from 1.5647 in New York late on Tuesday. Against the Japanese currency, the dollar fell to 99.36 yen on Wednesday from 99.98 on Tuesday. Later Wednesday, dealers will digest US economic releases that include new residential home sales and durable goods orders. Read more...

Posted by Editor at March 26, 2008 03:57 PM