Euro surges

Published May 5, 2006

LONDON, May 4: The euro shot up against the dollar here on Thursday on comments from European Central Bank head Jean-Claude Trichet that analysts said pointed to a hike in eurozone interest rates in June.

The single European currency in late-day trade was at 1.2680 dollars against 1.2631 late Wednesday in New York. The euro at one point hit 1.2697 dollars, its best showing since May 13, 2005.

The dollar was meanwhile trading at 113.43 yen after 113.56 on Wednesday.

The pound, meanwhile, was supported by further strong economic data that reinforced expectations the Bank of England might eventually be forced to raise interest rates.

The euro was changing hands at 1.2690 dollars against 1.2631 late on Wednesday, 143.85 yen (143.49), 0.6866 pounds (0.6855) and 1.5592 Swiss francs (1.5618).

The dollar stood at 113.43 yen (113.56) and 1.2292 Swiss francs (1.2369).

The pound was being traded at 1.8481 dollars (1.8418).—AFP

Opinion

Editorial

Doctor attacked
09 Jun, 2026

Doctor attacked

AN act of reprehensible violence has shaken the medical community. On Saturday, an employee of the Provincial Civil...
AJK flare-up
Updated 09 Jun, 2026

AJK flare-up

The situation started deteriorating after a trader affiliated with the JAAC was reportedly shot in an altercation with law-enforcers.
Fault lines
09 Jun, 2026

Fault lines

THE April 8 ceasefire that halted hostilities between Israel and Iran has encountered its most serious test yet....
Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...