Posted: Tuesday, August 26, 2008, 11:33AM
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"Governance"
Dollar hits six month euro high
European exporters have been handed a boost after the dollar climbed to a new six-month high against the euro.
The Greenback is currently trading at $1.47 against the euro, and has also hit a near two-year high against sterling, as fears over the strength of the European economy continue to permeate.
The dollar’s rise comes on the back of fresh data from Germany, which suggests that the eurozone is facing more economic turbulence.
Germany’s Ifo business confidence index fell to its lowest rate in three years this month, sparking speculation that a euro zone rate cut could be on the cards.
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