Dollar Hits All-Time Low Against Euro
The dollar was losing ground against the world's other major currencies Tuesday, at one point striking an all-time low against the euro.
One euro was recently trading for $1.5991, up from $1.5913 Monday. Earlier in the session, it reached $1.6019, the first time the common currency has exceeded $1.60.
The latest upward move came after an official with the European Central Bank said the ECB would be willing to raise interest rates if inflation appeared to be getting out of control.
At the same time, the dollar fell to 102.78 Japanese yen from 103.08 yen previously. The British pound rose to $1.9960 from $1.9796, making it the biggest mover on a percentage basis.
The
CurrencyShares Euro Trust
(FXE) - Get Report
and the
CurrencyShares Japanese Yen Trust
(FXY) - Get Report
were both rising 0.5%. The
CurrencyShares British Pound Sterling
(FXB) - Get Report
was higher by 0.7%.
In the metals markets, gold prices were climbing, with benchmark bullion futures adding $7 at $924.60 an ounce on the Comex division of the New York Mercantile Exchange.
The
streetTracks Gold Shares
(GLD) - Get Report
, the largest of the exchange-traded funds that hold only bars of the metal, was ahead by 0.3%.
Among the miners,
Eldorado Gold
(EGO) - Get Report
was down 1.2%, while
Harmony Gold Mining
(HMY) - Get Report
was up 3.6%.
Yamana Gold
(AUY) - Get Report
was losing 0.7%.