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novembro 23, 2004
Euro reaches record high of 1.3092 dollars
The euro streaked up to a record high point of 1.3092 dollars as the besieged US currency continued its retreat on concerns about imbalances in the American economy.
The euro smashed its previous all-time summit of 1.3074 dollars set last week.
The dollar was slightly weaker at 102.91 yen.
HBOS currency analyst Steve Pearson said the dollar's decline was part of a now well-established downward trend for the US currency.
"The dollar continues to plumb new depths against a broad range of currencies," he noted.
Pearson has a target for the euro of 1.35 dollars.
"We think it will top out around there... probably in the first quarter of next year," he said.
The dollar has come under pressure again following comments from Federal Reserve chairman Alan Greenspan on Friday suggesting that a further depreciation in the US currency may be necessary to bring down the US current account deficit.
The dollar's sharp falls leave the market nervous about the potential for intervention by the European Central Bank or the Bank of Japan to prop up the dollar as their economies suffer from weaker exports.
But the weekend Group of 20 forum of finance ministers in Berlin ended with no sign of action to stem the dollar's slide, no hint of central bank intervention and no attempt by officials to "talk up" the dollar.
Publicado por esta às novembro 23, 2004 04:06 PM