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Euro creeps up against U.S. dollar

Euro creeps up against U.S. dollar

The euro crept slightly higher against the U.S. dollar on Thursday in thin holiday-season trading.
The 12-nation currency bought US$1.3132 in morning European trading, compared with US$1.3123 in New York late Wednesday. The British pound edged up to US$1.9575 from US$1.9564.
The dollar bought 118.77 Japanese yen, up marginally from 118.74 yen on Wednesday.
The euro has been helped recently by expectations, fueled by U.S. data, that the gap between European and U.S. interest rates will continue to narrow.
Still, currency markets paid little attention on Wednesday to upbeat U.S. data on sales of new homes.
Higher interest rates, a weapon against inflation, support a currency by making assets denominated in that currency more attractive to investors.


Updated : 2021-11-30 18:37 GMT+08:00