国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

World Business

Euro plumbs 4 year low; tide firmly against risk

(Agencies)
Updated: 2010-05-17 13:59
Large Medium Small
SYDNEY - The euro sank to four-year lows on Monday as angst over Europe's debt crisis led investors to pull more money from stocks in favour of havens such as gold and Asian bonds.

So sour was the mood that markets seemed to take scant notice of solid US retail sales and factory output data that suggested the world's biggest economy was steadily healing.

"The market has gone into fear mode, and we're seeing red across the board," said Justin Smirk, chief economist at St George Bank in New Zealand.

The euro fell 0.9 percent from Friday's close to $1.2313 as investors doubted fiscally weaker euro zone nations can tighten their belts, or do so without stunting growth. Charts suggest the currency may extend losses to $1.23, then $1.2190.

With bets against the euro at an all-time high, traders said the currency looked weak as ever although a brief bounce on short-covering in the near term could not be ruled out.

Worryingly, there are signs that anxiety over Europe was squeezing credit markets, mirroring the days of the financial crisis when anxious investors and banks hoarded cash.

The downbeat mood in markets benefitted the US dollar. It's measure against a basket of currencies was strong near 15-month highs at 86.7 as investors favoured the safety of its liquidity.

Related readings:
Euro plumbs 4 year low; tide firmly against risk 'Uncertainties' damage euro's value
Euro plumbs 4 year low; tide firmly against risk Rogers says bailout is 'nail in the euro's coffin'
Euro plumbs 4 year low; tide firmly against risk Oil extends losses to near $76 on euro concerns
Euro plumbs 4 year low; tide firmly against risk Could huge safety net be strong enough to protect euro?

A stronger US dollar weighed on commodity prices. Oil fell over a dollar to $70.19, and copper futures eased as well.

Underscoring the extent of anxiety in markets, gold was holding up despite the firm US dollar at $1,236.90 an ounce, within earshot of a record high of $1,248.95.

Safe-haven government bonds were also in demand. US Treasuries were mostly up across the curve, while Japanese five-year yields hit five-month lows.

The unease in credit markets is reflected in three-month Libor and Euribor rates , which crept higher after failing to pull back in the wake of the mammoth $1 trillion euro zone aid deal struck a week ago.

The rates, which measure borrowing costs between banks and reflect credit risks, are at eight- and four-month highs respectively.

喀喇沁旗| 清流县| 锡林浩特市| 德州市| 湛江市| 登封市| 宁国市| 台安县| 绥德县| 衡山县| 平阳县| 阿图什市| 同心县| 南川市| 繁昌县| 台南县| 洛隆县| 聊城市| 绥芬河市| 嘉峪关市| 洱源县| 长泰县| 怀柔区| 新乡县| 曲麻莱县| 临清市| 永宁县| 沈丘县| 卓尼县| 嘉定区| 德昌县| 清河县| 洛宁县| 曲松县| 西乌珠穆沁旗| 扎兰屯市| 天等县| 麦盖提县| 太仓市| 汝城县| 旬邑县|