Dollar rebounds slightly against euro

Posted by BankInfo on Sun, Feb 27 2011 05:33 am

The dollar regained ground against the euro Friday after a week moving downward, as higher oil prices due to Libya’s political turmoil threatened to moderate growth prospects in Europe and the United States.

Markets remained on edge due to the fighting in Libya, where important oil supplies to Europe have been shut down.

At 2200 GMT the euro traded at $1.3749, down from $1.3797 the same time Thursday. But the dollar gave up more ground to the Japanese currency, buying 81.68 yen from 81.91 yen a day before.

The dollar gained ground on the pound, which was at $1.6117 from $1.6134. It also picked up against the Swiss franc, rising to 0.9279 francs from 0.9260.

The yen has climbed steadily in recent days as a safe-haven against the political instability in the Middle East. — AFP

News: Daily Sun /Bangladesh/ 27-Feb-2011

Posted in Economics, News