Euro rises against U.S. dollar after IMF forecast

08:23, July 09, 2010      

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The euro rose against the U.S. dollar to a two-month high after the International Monetary Fund raised its forecast for global economic growth this year.

The IMF said the economy worldwide is recovering faster than expected, even though Europe must still deal with its debt crisis and keep it from infecting other regions of the world.

The European Central Bank on Thursday held interest rates at 1 percent, while the Bank of England maintained a 0.5 percent rate.

In late trading in New York, the euro rose to 1.2681 dollars from 1.2650 dollars late Wednesday.

The British pound fell to 1.5152 dollars from 1.5205 dollars, while the dollar rose to 88.35 Japanese yen from 87.40 yen.

Source:Xinhua

(Editor:黄蓓蓓)

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