Euro strengthens versus greenback

Euro strengthens versus greenback

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The euro was stronger on Thursday morning in London after it added 0.5 percent to $1.4035 versus the US dollar as the greenback weakened further in the wake of the Federal Reserve’s decision to cut US interest rates.

Helped by its gain in relation to the dollar, which analysts saw as an important psychological breakthrough, the euro was 0.2 percent higher to ¥162.20 versus the yen and gained 0.4 percent to £0.7006 in relation to sterling, its highest level against the pound in over two and a half years.

The greenback was lower across the board.

It dropped 0.2 percent to $2.0050 in relation to sterling, while it fell 0.4 percent to ¥115.55 versus the yen, was 0.6 percent lower against the Canadian dollar to C$1.0090 and declined 0.9 percent versus the Swiss franc to SFr1.1739.