Monday, July 18, 2011

EURO Fall, Because Worrying Meeting UE Fail

The euro fell against most other major currencies on speculation that the leaders of the European Union (EU) will fail to deliver adequate steps to prevent a debt crisis at a summit this week.
The common currency fell against the yen, ending the increase during the last three days, after the European Central Bank President Jean-Claude Trichet insisted that the ECB will not accept as collateral for bonds of a nation that is the
default.Swiss franc rises to new record against the euro and the dollar,as the increasing demand for safer assets. New Zealand Dollar to maintain its profits in the last three days after a report showed inflation rate higher than the predictions of economists who had forecast in the second quarter.

The euro fell to $ 1.4086 at 9:20 pm in Tokyo from $ 1.4157 in New York on July 15. It slumped 0.6% to 111.37 yen. Franc rose for the seventh day, strengthening as much as 1.5% to a record80.33 cents per dollar, before trading at 81.10. This is also the highest increase over time from 1.1374 per euro. The dollar was little changed at 79.05 yen.

No comments: