Thursday, 14 Oct 2010

EUR/USD Breaks $1.41 Level

The euro rose above $1.41 today, for the first time since January, after the release of worse than expected economic data which intensified expectations that the U.S. Federal Reserve may soon take new measures to support the American economy. the dollar also hit a also hit a new 15-year low against the Japanese yen.

U.S unemployment claims showed a higher than expected increase, while the trade balance proved to be wider than expected.

The Canadian dollar moved through parity with the U.S. unit for the first time in six months, while the Australian dollar neared parity with the greenback.

The euro rose as high as $1.4103 in morning European trading before slipping back to $1.4084, well above the $1.3965 it bought in New York late Wednesday. The dollar sank to 81.19 yen from 81.77 yen. The British pound rose to $1.6109 from $1.5970.