Home »Money and Banking » World » Midday trade in New York: euro climbs on Greek bailout deal approval

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  • Dec 1st, 2012
  • Comments Off on Midday trade in New York: euro climbs on Greek bailout deal approval
The euro hit a seven-month high against the yen and a five-week peak versus the dollar on Friday, bolstered by the approval of the latest Greek bailout deal by German lawmakers and month-end buying from Japanese importers. Gains in Europe's shared currency came despite weak euro zone data that included a sharp drop in German retail sales, a fall in French consumer spending and record-high unemployment for the euro zone.

The euro has advanced for a third straight month in November against both the yen and dollar, rising 3.8 percent and 0.4 percent, respectively. In midday New York trading, the euro rose 7 percent to 107.28 yen. Earlier it climbed to 107.66, its highest since late April. Against the dollar, the euro was up 0.2 percent at $1.3006, having earlier touched $1.3027, its strongest level since October 23. The dollar climbed 0.4 percent to 82.48 yen, close to a near eight-month high of 82.84 yen hit last week, and up 3.4 percent on the month. That would be the dollar's best monthly performance since February.

Copyright Reuters, 2012


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