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4/23/11

Euro Highest Level, Gold New Record?

Euro
LONDON- The euro surged above 1.46 dollars on Thursday (21/04/2011) local time for the first time in 16 months before finally returning thin weakened as investors again see the rising concerns about the outlook for U.S. debt .
While at the London Bullion Market, gold hit a new high level, 1508.88 U.S. dollars per troy ounce, a day after the dollar closed at 1500 levels for the first time. Gold closed at around 1504 dollars.


Standard & Poor's shook markets on Monday while the S & P lowered the debt ratings outlook for the U.S. for the first time, highlighting the consistency of Washington's failure to stabilize the U.S. public finances.

In closing European trading Thursday, the euro traded at around 1.4581 dollars, down from 1.4649 the previous high level and up from 1.4521 at the close of trading in New York on Wednesday.Dollar fell sharply to 81.80 yen from the previous position of 82.54 yen.
Euro increasingly benefited from expectations of rising interest rates for the euro zone region to cope with rising prices. "The U.S. dollar has been hit across the board in the last 24 hours, which weakened against all major currencies," said Michael Hewson, market analyst at CMC Markets trading group.
Meanwhile, dealers said the Australian dollar has become a major concern reached a high level in 29 years in the position of 1.0771 as the dollar weakened and the unit prices of commodities to be strengthened.
Australia raising interest rates after the global economic slowdown, has increased by 175 basis points since October 2009 due to the booming mining sector is supported by the Asian demand helped the country overcome the recession.
In London at the close of trading Thursday, the euro was transferred to the position of 1.4581 dollars compared to 1.4521 at the close of trading in New York Wednesday, the position of 119.28 yen (119.89) and 1.2683 Swiss francs (1.2894). Dollar at 81.80 yen (82.54) and 0.8824 Swiss francs (0.8882). Pound in the range of 1.6567 dollars from 1.6407 dollars.
Source: KOMPAS.com
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