Euro sets another dollar high
Published September 24th, 2007
The euro has set another record high against the dollar, as the value of the greenback continues to fall following last week’s cut in US interest rates.
In early Monday trading, the euro climbed to $1.4130, beating Friday’s high of $1.4120.
The higher value of the euro has led to fears over job cuts in Europe, as it makes exports to the US more expensive.
Separately, gold prices are near a 28-year high, while oil has fallen. US crude lost 48 cents to $81.14 a barrel.
Oil prices had fallen back from last week’s record highs thanks to production returning to normal in the Gulf of Mexico after a storm caused a number of production cuts.
London’s Brent crude was down 45 cents to $78.85 a barrel in early Monday trading.
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