Euro hits 2-month high vs dollar, sterling rallies

The euro hit a two-month high above $1.27 on Tuesday after a smooth Greek treasury bill auction eased some concerns about Europe's debt crisis and took the sting out of another credit rating downgrade for Portugal. A strong start to the U.S. corporate earnings season drove risk appetite and also helped the euro, which rose more than a cent on the day. A surprise widening of the U.S. trade deficit in May weighed on the dollar. Sterling soared after hotter-than-expected inflation data left investors ...
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Added July 13, 2010
from Businessday Nigeria