Friday, April 27, 2007
Euro all time high against Dollar
The euro hit $1.3682, shooting past its previous high of $1.3667 from December 2004, after the U.S. Commerce Department reported that economic growth slowed to a 1.3 percent annual rate in the first quarter, its weakest performance in four years. This will make it more expensive for US travelers who are planning an overseas trip to Europe. The statistics of the U.S. gross domestic product, considered the best barometer of the country's economic fitness, was the weakest since a 1.2 percent pace registered in the opening quarter of 2003. It underscored just how much momentum the U.S. economy has been losing as it copes with the strain of the troubled housing market.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment