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Euro Continues Higher

Written By Luke Burgess

Posted March 11, 2008


The euro continued its march higher against the US dollar today, reaching a record high of US$1.5495 after news of an unexpected rise in German investor sentiment confidence.

The ZEW institute said that its monthly confidence index—a closely watched indicator for Europe’s biggest economy—rose to minus 32 points this month from minus 39.5 in February, defying analysts’ expectations of a slight decline.

The report pushed the 15-nation euro as high as US$1.5495 in late morning European trading. That beat the euro’s previous all-time high of US$1.5463, set last Friday.

– luke