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barbara

Euro rises against Dollar and Pound

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Hey guys, how are you doing. :)

The dollar fell again against the euro yesterday as Federal Reserve planned various other plans to boost the economy, giving way to speculation that more money supply could hamper the currency. Jack Spitz, managing director of foreign exchange at National Bank of Canada in Toronto, said: "The market is focused on how the Fed increases its balance sheet, buying more troubled assets. There’s a possibility the Fed is creating more risk tolerance at the expense of the dollar.”

The pound also fell after bad UK unemployment data was released.

The pound was down 1.1 per cent against the dollar to $1.3893 and fell 1.3 per cent against the euro to £0.9385. the pound also fell against the yen by 1.1 per cent to Y136.86. Against the euro, the yen fell 0.3 per cent to Y128.68 and was down 0.1 per cent against the dollar to Y98.66. The dollar fell 0.3 per cent against the euro to $1.3042.

Cheers!

Barbie :rolleyes:

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