Exchange Rates Today: Record Low For Euro Against Dollar, Pound, NZ Dollar & Yen Currencies

9 Jul 2012 at 11 AM - Written by Frank Davies

STORY LINK Exchange Rates Today: Record Low For Euro Against Dollar, Pound, NZ Dollar & Yen Currencies

The Pound and New Zealand Dollar have posted new highs against the embattled Euro, ahead of today’s European Finance ministers meeting to be held later today.

The ‘Kiwi’ hit a new record high against the Euro in the early hours of this morning reaching as high as 65.07. It is the highest level achieved by the New Zealand Dollar since the implementation of the single currency. Against the ‘Greenback’ the New Zealand Dollar has fallen as investors continue to seek refuge in the safe haven currency despite last week’s disappointing jobs data.

The Pound hit a fresh 3 ½ year high against the Euro as concerned investors opted to buy the Pound as a safer alternative to the troubled single currency. So far today the Pound has continued to make gains and the Euro has hit a new two year low against the US Dollar. Fears over the global economic situation and doubts over the outcome of today’s European finance ministers meeting are expected to keep Sterling trading up against the Euro.

Against the US Dollar the Pound is trading steady above a four week low of $1.546 which it hit last Friday. The low level follows the release of worse than expected jobs data out of the world’s biggest economy which prompted demand for the safe haven of the ‘Greenback’.

The Euro was also weaker against the Japanese Yen with the single currency hitting a low of $1.2225 in Asian trading but did recover slightly to be up 0.1 percent at $1.2288.

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