Dollar gains strongly against euro
AFP, October, 2004
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NEW YORK (AFP) — The dollar gained sharply against the single European currency in trading after the weekend's meeting of Group of Seven finance ministers produced no surprises, traders said.
The single European currency fell to 1.2283 dollars at 2100 GMT Monday from 1.2411 dollars late Friday in New York.
The dollar also rose against the Japanese yen, climbing to 110.96 yen from 110.52 late Friday.
The US currency gained as traders digested the weekend G7 meeting and said it yielded few surprises.
"With the G7 statement being broadly unchanged compared to the wording set out in February's Boca Raton meeting, the dollar has staged a minor relief rally against the major currencies," said ABN Amro analyst Paul Mackel.
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"With G7 event risk having now passed, we expect the market to re-direct its attention back towards the dollar's fundamentals."
The G7 statement ...
