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April 13, 2007
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Friday
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Rabi-ul-Awwal 24, 1428
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Euro gains
LONDON, April 12: The euro was buoyed on Thursday in the wake of comments by European Central Bank president Jean-Claude Trichet that signalled the ECB’s next interest rate rise would likely come in June.
The single European currency spiked to $1.3503 — the euro’s highest level since Jan 3, 2005.
In late trades, the euro stood at $1.3486, up from $1.3428 in New York late on Wednesday.
The dollar traded for 119.03 yen, down from 119.34 on Wednesday.
In Frankfurt, the ECB left its benchmark “refi” refinancing rate unchanged on Thursday at 3.75pc, as expected.
On the London Bullion Market, the price of gold eased back to $677.25 per ounce, from $678.20 late on Wednesday.
—AFP
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