Business | Markets

Dollar hits a high

The dollar touched a near 13-month high against the euro and a basket of major currencies yesterday after European Central Bank President Jean-Claude Trichet said inflation risks in the euro zone have diminished.

  • Reuters
  • Published: 00:13 October 3, 2008
  • Gulf News

The dollar touched a near 13-month high against the euro and a basket of major currencies yesterday after European Central Bank President Jean-Claude Trichet said inflation risks in the euro zone have diminished.

Early in New York, the ICE Futures dollar index was last at 80.617, up 1.1 per cent, after touching 80.794, a near 13-month high. The euro was last down 1.7 per cent at $1.3784, having hit a low of $1.3746. Spot gold was quoted at $851.60/ $853.60 an ounce at 1416 GMT slipping 2.7 per cent, against $868.75 an ounce in late New York trade on Wednesday.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Markets

  1. UAE stock markets gain

  2. Middle East stocks likely to remain range-bound

  3. DME pioneers Middle East crude benchmark

  4. Dubai joins big league of global financial hubs

All articles in Markets

More from Business

Gulf News
Popular in Business
Precious jump
General

Precious jump

Gold prices at new high as India's central bank buys $6.7b worth of gold

Business Editor's choice