Readers like you keep news free for everyone.

More than 5,000 readers have already pitched in to keep free access to The Journal.

For the price of one cup of coffee each week you can help keep paywalls away.

Support us today
Not now
Dublin: 17°C Sunday 7 August 2022
Advertisement

Euro falls to 11-month low against dollar

Investor concerns about the stability of the eurozone have yet to be allayed by EU moves to strengthen the currency’s support system…

Image: AP Photo/Frank Augstein/PA Images

THE EURO HAS fallen to an 11-month low against the dollar.

Two credit ratings agencies (Moody’s and Standard & Poor’s) warned recently that they could downgrade the ratings of EU member states – a warning which been encouraging investors to turn to the seemingly less-risky dollar.

Investors have also yet to be convinced that EU moves to increase stability and ease the current crisis will work.

Yesterday, the US Federal Reserve warned that market turbulence amid Europe’s ongoing financial concerns pose a big risk. Reuters reports that the Fed held its final policy meeting of 2011 yesterday and failed to announce any new measures aimed at stimulating growth, prompting US stock markets to fall slightly.

Asian markets also fell slightly lower overnight on the back of the US market moves and the Fed Reserve meeting.

This morning, Japan’s Nikkei is down 0.39 per cent, Hong Kong’s Hang Seng dropped 0.48 per cent and South Korea’s Kopsi is down 0.34 per cent.

Belgium, Spain and bailout fund perform better in bond auctions >

Markets fall as EU fiscal agreement does little to inspire confidence >

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.

Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Read next:

COMMENTS (14)