Dollar Hits Long-Term High Against Euro, Yen

By Paul Riegler on 2 September 2014
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At the close of business on Tuesday, the dollar rose to fresh one-year highs against the euro.  The euro fell as low as $1.3110, its lowest level since September 2013, before recovering to close at $1.3127, down 0.01% from Monday.

Since the start of the year, the greenback has gained 5% against the common currency.

The dollar also gained against the Japanese yen, the British pound, and the Swiss franc on Tuesday.

The dollar traded above ¥105 for the first time in eight months, closing at ¥105.06, while the pound hit $1.65, a five-month low.  The price of one dollar in Swiss franc was 0.9191, up .01%.

The euro closed 0.27% higher against the pound, closing at 0.7925 pence.

The dollar has rallied in recent months on the heels of improving U.S. economic data, while the pound’s weakness is attributed to increased support for Scottish independence weeks before Scots go to the polls to vote on leaving the rest of the United Kingdom.

(Photo: Accura Media Group)

Accura News

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