Euro hits record high against dollar as gas prices soar
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.
Comments
See Also
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.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.