Euro retains strength despite a weakening Europe
by Brian Turner
In Europe the euro held its own on Monday even though political turmoil was on the rise in the region. Among the factors influencing the political climate was a call for early elections in Germany.
German equities rose on the belief that the early election will send German chancellor Gerhard Schröder out of office and increase the speed of economic reforms. Another worry were polls showing that France and the Netherlands both seem likely to reject the EU constitution when they vote on the question soon.
On the negative side for Turkey, the prospect of a “no” vote from France on the EU constitution and the possibility of a resulting slowdown of Turkey’s entry into the EU sent the new Turkish lira down 0.5 percent to TL 1.7365 in relation to the euro.
For its part, the euro rose slightly in relation to the US dollar, up to $1.2568. It held steady against sterling at £0.6868, and it fell in relation to the yen, but only 0.3 percent to ¥135.36.
Discuss this in the Finance Markets forums
Story link: Euro retains strength despite a weakening Europe
Add to Bookmarks:
Related financial stories to: Euro retains strength despite a weakening Europe
- Euro shows strength
- Euro down on no
- Business in usual in Europe after no vote
- European investments threatened by possible French “No” to constituion
- Yen down on concerns for strength of Japanese government
- Euro falls on EU uncertainly
- Euro stabilising after referendum falls
- Southwest Airlines retains strong profitability
- Yen loses ground as China curbs renminbi strength
- Euro stumbles while yen benefits from corporate spending
Previous: « Telstra in A$30 billion sale
Next: Mizuho leads Tokyo equity markets »
Visited 338 times, 3 so far today
