{"id":206,"date":"2008-03-07T12:58:41","date_gmt":"2008-03-07T12:58:41","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/uncategorized\/dollar-in-new-slump-against-euro\/"},"modified":"2008-03-07T12:58:41","modified_gmt":"2008-03-07T12:58:41","slug":"dollar-in-new-slump-against-euro","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2008\/03\/07\/dollar-in-new-slump-against-euro\/","title":{"rendered":"Dollar to hit low agasint Euro"},"content":{"rendered":"

\t\t \t\t\t <\/font><\/p>\n\n\n
\n
\"Dollars<\/p>\n
The weak dollar makes European goods relatively more expensive<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n

The dollar weakened against the euro to hit a new record low, amid continued fears over the state of the US economy. <\/font>It took $1.540 to buy a euro in morning trade on Friday, up from $1.537 a day earlier, also a record. At the same time, one pound was worth $2.01. <\/font><\/p>\n

Meanwhile, the dollar fell below 102 yen for the first time in three years. <\/font><\/p>\n

Both the euro and sterling strengthened against the dollar after interest rates in the UK and the eurozone remained on hold on Thursday. <\/font><\/p>\n

European firms are finding it harder to sell their goods as they become relatively more expensive to US products. <\/font><\/p>\n

Speaking on Thursday, the head of the European Central Bank, Jean-Claude Trichet, said it was likely the euro would remain strong. <\/font><\/p>\n

The US Federal Reserve has been reducing interest rates to tackle the cooling economy, but the ECB reiterated the need to focus on addressing inflation and suggested a rate cut was not imminent. <\/font><\/p>\n

Inflation in the eurozone has reached its highest in six years. <\/font><\/p>\n

Analysts are awaiting figures on US non-farm payrolls, due at 1330 GMT, and fear they could show that the world’s biggest economy is heading for a recession. <\/font><\/p>\n

“Markets are braced for a rather bad employment number today. These ongoing recessionary worries are hitting risk appetite across the board,” said Geoffrey Yu, currency strategist at UBS in Zurich.<\/font><\/p>\n

Source: bbc.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"

The weak dollar makes European goods relatively more expensive The dollar weakened against the euro to hit a new record<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[12,48],"tags":[],"class_list":["post-206","post","type-post","status-publish","format-standard","hentry","category-economy","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=206"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/206\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}