Euro up against dollar to 1999 launch level

The euro surged above $1

The euro surged above $1.17 today to hit the level at which it was formally launched on exchange markets on January 1st, 1999.

The latest spurt in the single European currency followed a weekend meeting in France of the Group of Eight finance ministers that ended with no mention of the dollar's recent plunge.

The omission may have left the impression among currency traders that governments are not particularly concerned about the fall of the greenback.

AFP

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