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13.04.2011 16:56

US focus: Euro edges to 15-mth high vs dlr

The euro edged to a 15-month high against the dollar.
The euro was lifted by reported demand from sovereign names looking to recycle dollar proceeds as the single currency remained supported by the prospect of further rate rises in the euro zone while policy stays loose in the United States and Japan.


"The European Central Bank's increase of interest rates last week should not be considered as an isolated decision and the ECB president has signalled that it was not a one-off," ECB Governing Council member Luc Coene said on Wednesday.
Commodity-linked currencies such as the Australian and New Zealand dollars also rose, buoyed by a recovery in commodity prices and stocks.
An Australian sentiment index rose 1.2 percent to 105.3 this month from March, according to a Westpac Banking Corp. and Melbourne Institute survey released today. House prices in New Zealand increased 0.5 percent in March, an index published by the Real Estate Institute of New Zealand Inc. showed.


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