Market eyes new euro/dollar high
Half-hearted attempts by US officials to reaffirm the ‘strong dollar policy’ had little impact as the euro cruised through the $1.15 level to hit a new four-year high of $1.153. Against the yen, meanwhile, the euro steamed to a lifetime best of 134.40 yen per euro.
Meanwhile, the British pound did not escape, as the single currency powered near-record highs at £0.719 in euro/sterling.
Although the euro floated in January 1999 at a price of $1.17, the currency’s record high is $1.189, set on the
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