Euro Falls To 11-week Low Against Dollar
NEW YORK (AP) â¿¿ Positive manufacturing data from the U.S. and rising unemployment in Europe pushed the euro to an 11-week low against the dollar.
The British pound fell to a 2-year-low against the dollar on concerns about the United Kingdom's economy.
The euro fell to $1.3017 late Friday from $1.3063 late Thursday. The euro fell as low as $1.2965, its lowest point since Dec. 11.
U.S. manufacturing expanded in February at the fastest pace since June 2011. The Institute for Supply Management said that its index of factory activity rose in February to 54.2, up from January's reading of 53.1. A reading above 50 indicates expansion.In Europe, official figures showed that unemployment across the 17 European countries that use the euro rose to 11.9 percent in January from 11.8 percent in December. The British pound fell to $1.5018 from $1.5173. Earlier Friday, the pound fell as low as $1.4984, its lowest point against the dollar since July 2010. Britain's currency has been under pressure since Moody's downgraded the U.K.'s credit rating last week. In other trading, the dollar rose to 93.58 Japanese yen from 92.69 Japanese yen. The dollar fell to 0.9436 Swiss franc from 0.9367 Swiss franc and to $1.0285 Canadian dollar from 1.0299 Canadian dollar.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV