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

Euro hits six-week low against dollar following Strauss-Kahn arrest

The single currency fell briefly before trading up by mid-morning on the London Stock Exchange.

Dominique Strauss-Kahn (File photo)
Dominique Strauss-Kahn (File photo)
Image: AP Photo/J. Scott Applewhite

THE EURO BRIEFLY fell to a six-week low against the dollar on Monday as traders had their first chance to react to the weekend arrest of the International Monetary Fund’s (IMF) managing director Dominique Strauss-Kahn on charges he sexually assaulted a maid in his hotel room.

However, the selling pressure did not last long and the euro was trading up 0.4 percent by mid-morning in London at $1.4132.

Earlier, during Asian trading hours, the single currency had fallen as low as $1.4046, its lowest level since 29 March.

Analysts said the arrest of Strauss-Kahn in New York was unlikely to derail a €78 billion bailout of Portugal or alter discussions about whether Greece will need any more aid, on top of last year’s €110 billion financial rescue.

- AP

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.

About the author:


Read next: