Forex Blog: Currency Trading News & Analysis.

April 25th 2007

Euro on Target to Break Through 2004 Record

The Euro is quickly closing in on its all-time record against the USD.  The record exchange rate was clocked in December 2004, at $1.37 Euro/USD, but I suppose records exist for the sole purpose of being broken.  Besides, it was never really a question of if, but rather when the Euro would smash through the record.  If current trends continue, it looks like the when will be sooner rather than later, since the European economy appears to be entering a period of pronounced growth while the US economy has probably already peaked.

Analysts are now predicting that the European Central Bank will raise its benchmark lending rate by 25 basis points to 4% at its June meeting, which should give the Euro a further boost.

Read More: Euro nears record high against dollar

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Posted by Adam Kritzer | in Euro | No Comments »

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