Euro drops 3 percent versus USD this week

                   
currencynews.co.uk: Euro drops 3 percent versus USD this week currencynews.co.uk
currencynews.co.uk     08-Aug-2008            

The euro was on track to drop 3.1 percent versus the US dollar this week and it was down almost 2 percent on the session to $1.5042 to the shared currency on sentiment that the European Central Bank is not likely to raise Eurozone interest rates anytime soon. The declines came after ECB president Jean-Claude Trichet said that growth will be weak in the third quarter. The euro also declined in relation to the Japanese yen, trading at ¥165.7253 to the shared currency at around 11 a.m. in New York, but the dollar gained on the yen to ¥110.1750. The pound was also weaker against the greenback as the dollar traded at $1.9171 to the UK currency in late morning trade in New York after the UK’s Council of Mortgage Lenders reported that home repossessions were at their highest in 12 years in the first half of the year, while the... [read full story]                    

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Trichet warning on growth dents euro

ft.com     07-Aug-2008          

The euro gave back early gains on Thursday, hitting a seven-week low against the dollar after Jean Claude Trichet, president of the European Central Bank, sounded a warning over growth. The ECB as expected left eurozone...                    

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ECB Rate Freeze Boosts US Dollar Long-term Trend Change Probability

marketoracle.co.uk     08-Aug-2008          

Bloomberg is reporting Euro Slumps to Five-Month Low on Reduced Bets for Higher Rates . The euro slumped to a five-month low against the dollar as traders pared bets that the European Central Bank will raise interest rates due...                    

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Euro and pound dip against dollar

bbc.co.uk     08-Aug-2008          

The dollar has rallied against the pound and euro amid belief that the US economy may be in better health than other countries. Sterling slumped to 17 month lows of $1.9225, down 1.1%, while the euro hit five month lows of...                    

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U.S. Dollar Soars Triggering Major Currency Breakouts

marketoracle.co.uk     09-Aug-2008          

Bloomberg is reporting Euro Falls the Most in 8 Years on Reduced Bets for Higher Rate . The euro fell the most in almost eight years, pushing the currency to a six-month low against the U.S. dollar, as traders pared bets the...                    

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