Euro hits fresh record

Source ::: AFP

london • The euro gained on the dollar and struck a fresh record against the pound here yesterday on a market largely deserted by traders heading for holiday destinations.

The London currency market will be closed on Tuesday. The single European currency in late-day deals was at $1.4405 against 1.4378 late Friday in New York.

The euro shot to a new record against the pound, hitting 72.89 pence, the euro's best showing since its creation in 1999. The dollar was meanwhile trading at 114.36 yen, up from 114.09 on Friday.

There has been "very little movement ... but the euro has managed to move into the black," said Peter Stoneham at Thomson IFR Markets as the euro edged up against the dollar during the day.

“The thin holiday conditions have been exacerbated by the lack of fresh factors for the market to trade off. Corporate activity has leant some direction with patchy euro demand out of Europe," he said.

From: thepeninsulaqatar.com