Forex Cow

Dollar falls against euro as Ireland worries ease

Forbes |

In Brief...

The dollar fell against the euro Thursday as traders became more confident that Ireland would get financial help from the European Union and International Monetary Fund.. The dollar had been gaining against the euro since Nov. 4 after signs emerged that Ireland might need help managing its massive debt load. The European currency got relief Thursday as officials from the EU and IMF worked to hammer out a deal to shore up Ireland's finances.. That suggests the dollar will drop a bit more, in the short term, against the euro after its climb over the past 2 weeks.. Some of Britain's biggest banks hold Irish government bonds, and would suffer losses if Ireland were to default..

Read the entire article at Forbes

Related Topics

blog comments powered by Disqus