Home
Other News
Home >> News & Events >> Euro firms against dollar in Asian trade
Euro firms against dollar in Asian trade
News Source: GEO News      Updated: Wednesday, February 8, 2012
Euro firms against dollar in Asian trade SINGAPORE: The euro rebounded against the dollar in Asian trade Tuesday but ongoing worries over Europe s debt woes will see investors favouring the greenback over the long-term, analysts said.The euro rose to $1.2985 from $1.2939, while the dollar was trading at 76.85 yen from 76.98 late Friday in New York. Markets were closed Monday and Tuesday in Japan for public holidays.The European unit also firmed against the yen, changing hands at 99.79 against 99.62 late Friday.'With the euro facing capitulation risks in (the first quarter), the first half of the year is likely to favour the US dollar as a safe haven currency,' Singapore s DBS bank said in a commentary.'The eurozone sovereign debt crisis is no longer only about the peripheral countries.'Rating agencies have placed the whole region on negative watch including the AAA-rated core EU economies.'DBS bank said it expects the euro to decline to $1.20 by the end of this quarter.The eurozone s still-unresolved fiscal woes have dented the single currency with Spain announcing Friday 8.9 billion euros in budget cuts and higher taxes as it moves to curb a bigger-than-expected public deficit.

Latest News
Opening of Ansar Group's 10th outlet in the Middle East and overall 11th
Ansar Group inagurated its 10th in Tustin, CA, USA
Grand Opening Ansar Gallery Centre, Al-Rayyan Branch in Qatar
Ansar Gallery, Bahrain Blood Donation Drive
Ansar Gallery, Bahrain Cleaning Campaign
Ansar Gallery introducing the loyalty program for teachers by means of offering Moalemi Card
Ansar Group opened its 8th outlet in middle east on March 04, 2012
Ansar Group will open its 8th outlet in middle east on March 04, 2012
Damac showcases ‘Versace homes’ at 27th Janadriyah Festival
Swiss agrochemicals giant Syngenta sees profit rise

Past News
S. Korea says Saudi Arabia ready to consider additional crude supplies
Euro firms against dollar in Asian trade
Saudi Arabia oil loadings increase 22 % in week, ship data show
Fitch rates Bahrain Telecommunications Company 'BBB-'; Outlook stable
Asian markets rise as Italy vows debt crisis plan




Promotion and Offers Customer Loyalty Program Lucky Draw Ansar Group
Current Promotion
Home Customer Loyalty Program Lucky Draw Promotion and Offers