|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Investment News feed Investment News

All Financial News feed All Financial News

Dollar rallies against other currencies

Bookmark and Share

by Brian Turner
Dollar rallies against other currencies

The dollar staged a rally against other currencies on Thursday after Federal Reserve chairman Alan Greenspan’s Thursday appearance before a Congressional committee, in which he gave an optimistic assessment of the US economy.

Included in Mr. Greenspan’s remarks were his opinion that the US economy is on “a reasonably firm footing” an that inflation remains in check. He did, however, say that there remains a risk that inflation might go up.

He also signaled that interest rates will likely continue to rise, but he gave no indication as to how much or for how long.

The dollar gained 0.4 percent in relation to the euro to $1.2177 and was up 0.5 percent against the yen to ¥107.76.

It also rose 0.3 percent to $1.8176 in relation to sterling, as well as going up 0.5 percent to C$1.2579 against the Canadian dollar.

Also helping the dollar Thursday was JP Morgan’s estimate of a 4.25 percent interest rate by the end of the year and predictions of strengthening of the dollar by March 2006 to $1.18 in relation to the euro and to ¥110 against the yen.

Discuss this in the Finance Markets forums

Story link: Dollar rallies against other currencies

News posted: June 9, 2005

Financial Services:

Related financial stories to: Dollar rallies against other currencies:
Previous: «
Next: »

Visited 1101 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.