Corporate foreign exchange news

Euro gains as investors leave US

Tuesday, 15 September 2009 10:00:41 GMT

A renewed focus from investors on economies outside of the US allowed the euro to gain ground against the dollar on Tuesday (September 15th), reports Bloomberg.
The investment news provider explains that an upcoming report due for publication in Germany coincides with the rising fortunes of the European single currency.
Economists expect the report to show investor confidence standing at its highest point in more than three years.
In light of the news, investment in the euro took the value of the currency to a nine-month position of strength compared to the dollar.
Bloomberg adds that the shift from the US to other economies was also driven by the availability of "record-low borrowing costs".
The news continues a series of gains made by the euro against the dollar towards the end of last week.
Newswire AFP reported figures from Thursday trading that showed the euro gain from its position of $1.4564 to $1.4583 by 21:00 GMT on the day.ADNFCR-2522-ID-19360759-ADNFCR
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