Euro Soars to 7-Month High Against Dollar

NEW YORK (AP) -- Stronger manufacturing data from China is pushing the euro to a seven-month high against the dollar. Traders are also selling the dollar after a report showed that U.S. inflation is mild.

Chinese manufacturing rose to a 14-month high in December, adding to signs the world's second-largest economy is recovering.

In the U.S., the Labor Department said its consumer price index fell 0.3% in November from October, meaning that inflation is still mild. Traders took the data to mean that the Fed will continue to keep interest rates low to boost the economy.

The euro rose as high as $1.3173 in afternoon trading Friday, its highest point against the dollar since May 4. The euro was worth $1.3075 late Thursday.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2155015, ~/Articles/ArticleHandler.aspx, 11/27/2014 6:28:28 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement