Euro largely holds on to gains against U.S. dollar

"Currency"

04/11/2007

The Associated Press
Published: April 11, 2007

BERLIN: The euro on Wednesday held on to most of the gains it made the previous day against the U.S. dollar as markets awaited minutes from the Federal Reserve's latest meeting on interest rates.

The 13-nation euro bought US$1.3421 in morning European trading, compared with US$1.3424 in New York late Tuesday. The British pound rose to US$1.9785 from US$1.9716, while the dollar edged up to 119.19 Japanese yen from 119.12 yen.

The euro rose above US$1.34 on Tuesday amid worries over trade troubles between the U.S. and China — which expressed "strong dissatisfaction" over a U.S. move to file two new complaints against it at the World Trade Organization — and persistent concern over the strength of the U.S. economy.

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