FX round-up: Dollar puts other currencies in the shade

Date: Friday 29 Jun 2012

The dollar rose on Thursday as the two-day EU summit got underway as Europe's financial leaders try to agree on a solution to deal with the on-going crisis.

With little hope of such a breakthrough being made, the dollar turned up against other major currencies, putting the dollar index at 82.793, compared to 82.585 late the previous evening.

Last night the euro fell to $1.2429 compared to $1.2465 late on Wednesday.

The two-day summit is aimed at providing a clear guide for the region's leaders to pull Europe from the crisis by sparking growth and lowering debt levels.

Meanwhile, the pound fell against the dollar, dropping from $1.5565 late Wednesday to trade at $1.5498 last night.

The Japanese yen also fell against the greenback, trading at ¥79.42, down from ¥79.75 the previous evening.

On Friday morning however, European leaders declared their resolve to 'break the vicious circle between banks and sovereigns' once an effective system for joint bank supervision has been set up.

NR

Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange Market.

« Go back to news channel

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE