Euro at 8-month high vs US dollar
The Associated Press, Berlin | Thu, 10/14/2010 1:48 PM
The euro is trading at more than an 8-month high against the U.S. dollar on expectations the U.S. Federal Reserve may soon take new measures to support the American economy.
The 16-nation euro hit $1.4093 in morning European trading Thursday, the highest level since the end of January. It retreated slightly later to $1.4071, up from $1.3959 the day before.
The British pound is up to $1.5970 from $1.5840 on Wednesday, while the dollar is down to 81.22 Japanese yen from 81.82 yen the day before.
After the release this week of the minutes of the Fed's September meeting, many expect the central bank will announce a big bond-buying program as soon as next month. That could drive interest rates even lower, which could stimulate the economy but hurt the dollar.
