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Euro jumps to 9-month high vs dollar

Source : AP
Last Updated: Fri, Jan 11, 2013 21:30 hrs

Optimism that the world economy is improving pushed the euro to a nine-month high against the dollar Friday.

Traders sold the yen, pushing it to its lowest point against the dollar in over two years, after Japan announced a new stimulus package to boost its economy.

On Thursday, European Central Bank President Mario Draghi said he expects the economy in the 17-country bloc that uses the euro to recover slightly in late 2013.

The euro rose to $1.3338 late Friday from $1.3254 late Thursday. The euro jumped as high as $1.3365, its highest point against the dollar since April 3, 2012.

In Japan, new Prime Minister Shinzo Abe announced a $224 billion stimulus package Friday to help the country's economy. The dollar rose to 89.20 Japanese yen from 88.19 Japanese yen late Thursday. The dollar rose as high as 89.434 Japanese yen Friday, its highest point against the dollar since June 28, 2010.

In other trading Friday, the British pound fell to $1.6121 from $1.6153.

The dollar fell to 0.9130 Swiss franc from 0.9145 Swiss franc and to 98.41 Canadian cents from 98.42 Canadian cents.




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