NEW YORK ? The dollar fell against the euro and most other currencies Friday on expectations that European leaders are closer to announcing a sweeping plan to help address the region's debt crisis.
Earlier this week German Chancellor Angela Merkel and French President Nicolas Sarkozy said a plan would be put together by the end of the month. They said it would include ensuring that European banks have enough capital.
A comprehensive plan now seems more likely to investors after all 17 countries that use the euro agreed to an expansion of the European bailout fund. Slovakia became the final nation to approve it on Thursday.
Currency investors even shook off a downgrade of Spain's debt by ratings agency Standard & Poor's. The firm lowered its long-term rating on Spain's debt late Thursday to "AA-" from "AA" and said the outlook on the rating is "negative," meaning it could be lowered again.
In afternoon trading Friday, the euro rose to $1.3851 from $1.3783 late Thursday. The British pound rose to $1.5797 from $1.5769.
The U.S. dollar fell despite a stronger than expected report that U.S. consumers spent more last month. The Commerce Department said that retail sales rose 1.1 percent in September, as Americans spent more on autos, clothing and furniture. It was the largest gain in seven months.
In other trading Friday, the dollar fell to 0.8936 Swiss franc from 0.8977 Swiss franc and to 1.0153 Canadian dollar from 1.0190 Canadian dollar. However, the dollar rose to 77.34 Japanese yen from 76.88 yen late Thursday.
The U.S. dollar fell against most other major currencies including the Australian, New Zealand and Hong Kong dollars, the Norwegian krone and the Brazilian real.
tennessee football tennessee football iowa hawkeye football iowa hawkeye football katt williams penn state football leona lewis
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.