Euro Proves Too Weak to Break Through $0.91 Mark
August 6, 2000 - 0:0
TEHRAN The euro remained under pressure against the dollar Friday even after the release of a relatively weak U.S. July employment report, AFP quoted dealers as saying from New York.
At 2100 GMT the euro had proved too weak to break through the $0.91 level and stood at $0.9073, up from $0.9065 late Thursday.
Against the other major currencies, the euro was at 98.51 yen from 98.20 yen, at 0.6042 pounds sterling down from 0.6051 pounds sterling and at 1.5468 Swiss francs, up from 1.5419.
The dollar was trading at 108.57 yen compared with 108.33 yen Thursday and at 1.7048 Swiss francs up from 1.7038, while the pound sterling was at $1.5037 from $1.4974 Thursday, at 163.33 yen from 162.24 yen, and 2.5635 Swiss francs from 2.5506.
On Thursday, the euro had briefly skimmed below $0.90, hitting a $0.8995 low perilously close to its lowest-ever level of 0.8844 before closing at 0.9065.
By Friday it gained a little ground against the dollar as surprisingly soft U.S. labor market data eased fears of an imminent interest-rate hike by the Federal Reserve.
However, dealers noted that the general sentiment on the euro remains negative, and even the possibility of no further rates hikes from the Federal Reserve in this cycle appears to be giving it little significant support.
At 2100 GMT the euro had proved too weak to break through the $0.91 level and stood at $0.9073, up from $0.9065 late Thursday.
Against the other major currencies, the euro was at 98.51 yen from 98.20 yen, at 0.6042 pounds sterling down from 0.6051 pounds sterling and at 1.5468 Swiss francs, up from 1.5419.
The dollar was trading at 108.57 yen compared with 108.33 yen Thursday and at 1.7048 Swiss francs up from 1.7038, while the pound sterling was at $1.5037 from $1.4974 Thursday, at 163.33 yen from 162.24 yen, and 2.5635 Swiss francs from 2.5506.
On Thursday, the euro had briefly skimmed below $0.90, hitting a $0.8995 low perilously close to its lowest-ever level of 0.8844 before closing at 0.9065.
By Friday it gained a little ground against the dollar as surprisingly soft U.S. labor market data eased fears of an imminent interest-rate hike by the Federal Reserve.
However, dealers noted that the general sentiment on the euro remains negative, and even the possibility of no further rates hikes from the Federal Reserve in this cycle appears to be giving it little significant support.