Dhaka, Bangladesh (BBN) – The European single currency (EUR) remained near its highest level since September 2008 after the G-20 finance officials pledged to maintain government spending and low interest rates to boost economic recovery.
The EUR traded at 1.4600 against the US Dollar (USD) on Wednesday, according to reports.
The British Pound (GBP) dropped from near the highest level in more than two weeks against the USD to 1.6501 at the close of business yesterday. The Bank of England declared that it would not expand its GBP 175 billion pound (USD 289 billion) plan to buy bonds, while policy makers have kept the key rate at 0.5 percent.
The Japanese Yen (JPY) fell for a sixth straight day against the EUR as prospects for improved company earnings buoyed stocks, reducing demand for JPY as a refuge. The JPY fell to 134.12 against the EUR, the lowest since August 28, while the weakened USD fetched 92.13, the highest since February.
The Australian Dollar (AUD) fell for the first time this week after employers cut almost twice as many jobs as forecasted, dropping 0.4 percent to 0.8593 from 0.8669 against the Greenback yesterday, the highest since August 28, 2008.
BBN/SS/SI/AD-11September09-10:40 pm (BST)
