Corporate foreign exchange news

Euro currency exchange rates up versus dollar

Friday, 24 June 2011 09:06:02 GMT

Published by Jamie Jemmeson
Foreign currency exchange rates for the euro have risen against the dollar in Asian trading today (June 24th).
That is according to Marketwatch, which noted the single currency moved up from the level of $1.4235 seen yesterday to $1.4261.
Analysts' confidence in the euro may have been boosted after the economic uncertainty surrounding Greece was eased to some extent after terms for a new five-year bailout package were approved by the International Monetary Fund and the European Union.
Commenting on the current outlook, currency strategists at Societe General stated: "This core theme should re-assert itself during July as long as the upcoming data round confirms the soft patch isn't quicksand."
This follows comments from Teppei Ino, a currency analyst at the Bank of Tokyo-Mitsubishi UFJ, who told Reuters earlier this week he believes the dollar's decline will hold steady, but added that investors need to look out for further clues relating to the US economy.
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