Wednesday, March 14, 2012

Finance ministers from euro area meet as currency nears high against dollar

Finance ministers from the euro currency zone's 15 nations are meeting Monday, days after the euro hit an all-time high against the U.S. dollar while inflation stands at record levels.

The euro purchased as much as US$1.5237 in early European trading _ making German cars and French champagne more expensive for the European Union's major trading partner, the United States _ coming close to the US$1.5238 high it hit on Friday on speculation of a U.S. interest rate this month.

The strong euro and high inflation in the euro area _ 3.2 percent in both January and February _ risk weakening the two main drivers of Europe's recent growth: an export boom abroad and …

No comments:

Post a Comment