Small euro coins may be dropped—EU
Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday.
Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday.
The euro came under further selling pressure in Asia Thursday owing to concerns about Cyprus as it prepares to reopen its banks after the weekend bailout, while political uncertainty in Italy also weighed.
The European single currency fell under $1.28 for the first time since November on Wednesday owing to concerns over fallout from the Cyprus financial bailout.
The Philippine Dealing System Holdings Corp. (PDS) is working to introduce onshore trading of the Chinese renminbi and euro as part of plans to diversify its foreign exchange offerings.
Positive manufacturing data from the U.S. and rising unemployment in Europe pushed the euro to an 11-week low against the dollar.
The strength of the euro, the state of the global monetary system and controversy over a so-called “currency war” will dominate the economic stage at eurozone and G20 ministerial meetings this week.
The dollar rose against most other major currencies Friday after China’s economy showed signs of rebounding.
Stronger manufacturing data from China pushed the euro to a seven-month high against the dollar Friday. Traders also sold the dollar after a report showed that U.S. inflation has remained mild, leading traders to anticipate that the Federal Reserve will keep interest rates low.
The euro was weaker in Asian trading on Tuesday, weighed by worries over Italian Prime Minister Mario Monti’s decision to quit, while traders kept a close eye on the Fed’s two-day policy meeting.
The dollar and euro climbed against the yen in Asia on Thursday as positive Chinese manufacturing data boosted risk sentiment, while traders were also looking ahead to a crucial US jobs report.
When the history books come to be written about the euro, September 12, 2012 could well prove one of the most significant dates in the life of the embattled single currency.
The euro fell back against the dollar Monday, correcting after Friday’s two-cent surge on the back of the new eurozone crisis pact.
