Inflation
April 17, 2008
Will the Euro be relatively stronger than the Dollar in the face of global inflation?
Associated Press, by Martin Crustinger in Inflation
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"The dollar hit a new all-time low Thursday, its second record in as many days, as the euro surged to $1.5982.
The euro rose in late-morning European trading above its previous record of $1.5978, set Wednesday. It then settled back slightly to $1.5967.
The dollar has been weighed down by a combination of gloomy U.S. economic data and high European inflation.
The British pound climbed to $1.9771 from $1.9708, and the dollar slipped to 101.96 Japanese yen from 102.04 yen.
The euro gained strength on Wednesday from data showing that annual inflation in the 15-nation euro zone reached 3.6% in March, the highest level in 16 years.
That appeared likely to muffle calls for the European Central Bank to lower its interest rate from 4%."
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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