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Euro suffers brief retreat on Strauss-Kahn arrest

Euro suffers brief retreat on Strauss-Kahn arrest

The euro briefly fell to a six-week low against the dollar Monday as traders had their first chance to react to the weekend arrest of the International Monetary Fund's managing director Dominique Strauss-Kahn on charges he sexually assaulted a maid in his hotel room.
However, the selling pressure did not last long and the euro was trading up 0.5 percent Monday morning in London at $1.4144. Earlier, during Asian trading hours, the single currency had fallen as low as $1.4046, its lowest level since March 29.
Analysts said the arrest of Strauss-Kahn was unlikely to derail a bailout of Portugal or whether Greece will need any more aid.
European finance ministers are meeting over the coming two days in Brussels. Strauss-Kahn had been due to join them.


Updated : 2021-06-20 06:05 GMT+08:00