Dollar Weaker Against Euro, Yen
Monday, July 21, 2008 at 12:26 pm Under Business News 4 views
SINGAPORE :The dollar was weaker against the euro and yen in Asian trading on Monday as investors took profits after the US currency’s gains last week, dealers said.
In morning trade, the dollar was at 106.73 yen, down from 106.95 in New York Friday. The euro changed hands at 1.5865 dollars, up from 1.5846.
“The dollar is a little bit weaker,” said Dariusz Kowalczyk, a senior investment strategist with CFC Seymour Securities in Hong Kong. “There is some profit-taking, I would say.”
Markets in Japan were closed for a public holiday.
“Markets are increasingly worried that the US economic and financial turmoil could trigger a slowdown in Europe and even Japan,” said Ryohei Muramatsu, treasury manager at Commerzbank.
The dollar firmed Friday during US trading hours after banking giant Citigroup, among the hardest hit by the weak US housing market, posted a smaller-than-expected quarterly loss.
The news from Citigroup, one of the biggest US banks, helped calm jitters about the health of the financial sector in the world’s largest economy.
|
Loading ...
Business News top stories
-
OPEC oil Price continues to Slide
- This Category's RSS Feed
Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting... Read more »
Tokyo Stocks Open Lower On Prolonged Concerns Over EconomyTokyo stocks opened lower Wednesday on prolonged worries over the economic outlook. The... Read more »
Sensex gains over 120 points in early tradeSnapping its five-day losing streak, the benchmark Sensex today (November 19) opened higher... Read more »
Action on interest rates at right time: SubbaraoThe Reserve Bank is continuously monitoring the liquidity situation and would decide on... Read more »
‘US financial rescue package not a panacea’The $700 billion US financial bailout programme is “not a panacea” to cure economic... Read more »
Something to say about this news story?
You must be logged in to post a comment.
Headlines from Business News
- OPEC oil Price continues to Slide
- EU ministers set for acrimonious talks on relaxing milk quotas
- Barack Obama, Democrats Should Rebuild Trust in Government
- Al-Qaida Leader Aazam Assaudi Killed
- India & China will increasingly rely on oil imports by 2030
- Gen Ashfaq Pervaiz Kayani Meets Nato Chief
- Govt Aware of Kids Rights Protection: President Asif Ali Zardari
- PM Gilani Condole Demise of Scholar, Filmmaker
- Qazi Hussain Ahmed Urges Govt To End US Cooperation
- Delegations arrive for Russia-Georgia talks in Geneva
Featured Video News
Advertisement
Advertisement
Email Subscription
Advertisement
Latest News In Piture
PESHAWAR: A major Al-Qaida leader... More »
