Dollar continues slumping as EU worries ease

12:41, June 16, 2010      

Email | Print | Subscribe | Comments | Forum 

The dollar continued to weaken against all major currencies on Tuesday as market's concerns about debt problems in euro zone countries eased.

The euro reached 1.2349 dollars on Tuesday during trading, the highest level since June 1.

The European Commission said on Tuesday that Spain and Portugal will have to keep painful budget cuts in place into 2012. But it said both countries' plans to make big cutbacks next year should bring their budget deficits in line with EU mandates.

Meanwhile, strong demand for government bond auctions of Spain and Belgium also boosted investors' confidence in the euro. Spain raised 5.2 billion euros at auctions for 12- and 18-month bills. Belgium's bond auction was also oversubscribed with a total of 2.5 billion euros.

In late New York trading, the euro rose to 1.2333 dollars from 1.2243 dollars late Monday, and the British pound rallied to 1. 4817 dollars from 1.4771 dollars.

In other trading, the dollar fell to 91.38 Japanese yen from 91. 52 yen, slipped to 1.1334 Swiss francs from 1.1409 francs, and dipped to 1.0263 Canadian dollars from 1.0302 Canadian dollars late Monday.

Source: Xinhua

(Editor:张心意)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion