Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Euro hits record high against dollar as gas prices soar

Share this article

09:00 CET+01:00
The euro reached a record high against the dollar at $1.5907 early Monday morning - again.

At 7:45 am, the value fell again to $1.5811, but could likely reach $1.60 in the coming days, traders said.

Oil prices are also at a record high, costing $111.42 per barrel. Traders said the prices are rising against the background of the falling greenback and intense purchasing interest from institutional investors. These investors, after the breakdown of US investment bank Bear Stearns and ongoing capital loss from exchange fluctuation, are searching for security in oil.

Get notified about breaking news on The Local

Share this article

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?