Tags: Dollar

Euro Keeps Rising as Greek Bond Sale Reassures

Tuesday, 30 Mar 2010 07:57 AM

The euro has continued to rise against the dollar after Greece was able to raise 5 billion euros ($6.7 billion) through a bond issue.

The 16-nation euro is at $1.3515 in European morning trade Tuesday, from $1.3463 late Monday in New York.

The British pound is higher, buying $1.5048 from $1.4975, while the dollar is holding steady at 92.54 Japanese yen.

Greece's seven-year bond issue on Monday reassured investors that Athens can still access bond markets, even though its borrowing costs remain high. Budget and debt issues in Greece weighed on the common currency in recent months.

Last week, European countries promised loans together with funding from the International Monetary Fund, to assist Greece if it is unable to borrow or pay its debts.

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The euro has continued to rise against the dollar after Greece was able to raise 5 billion euros ($6.7 billion) through a bond issue.The 16-nation euro is at $1.3515 in European morning trade Tuesday, from $1.3463 late Monday in New York.The British pound is higher, buying...
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2010-57-30
 

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