In overnight Asian trade, the euro hit $1.3367, which was last seen in March 2005, and forged another all-time record of ¥154.18.
December 4, 2006 (Press Release) --
The European single currency hit fresh high points against the dollar and the yen on Monday before retreating slightly on profit-taking, analysts said.
In overnight Asian trade, the euro hit $1.3367, which was last seen in March 2005, and forged another all-time record of ¥154.18.
At the start of European trading, the euro edged down to $1.3307 compared with $1.3337 in New York late on Friday.
The dollar stood at ¥115.74 from ¥115.43 late on Friday.
The pound meanwhile eased off last Friday's 14-year high of $1.9848.
The greenback fell again in Asian trade on Monday, after surprisingly weak US manufacturing data released on Friday further jolted confidence in the world's largest economy.
Dealers said the euro was set to remain firm ahead of an interest rate call from the European Central Bank on Thursday, when a further quarter-point hike to 3.50% is widely expected.
The dollar has come under pressure in recent weeks from signs that the US Federal Reserve's next interest rate move could be down - in stark contrast to the ECB. American borrowing costs currently stand at 5.25%.
"We see the greenback remaining under pressure throughout the week, though heading into Thursday's ECB press conference we could see some profit taking," said Commerzbank analyst Gavin Friend.
Further afield, November's US nonfarm payroll report was due for release on Friday. Analysts' consensus forecast is for nonfarm payrolls to have increased by 120 000 last month.
"We would need a number well above 150 000 in order to generate any positive dollar reaction after soft US data last week," added Friend.
Despite clawing back some losses on Monday, sentiment towards the dollar remained negative, dealers said.
"Although the market afforded the dollar some respite ... the currency has been robbed of support from a recent spate of particularly disappointing US economic data releases," added Neil Mellor at the Bank of New York.
Losses on Friday were triggered by the Institute for Supply Management's index of US manufacturing activity, which dropped to 49.50 from 51.2 in October, falling below the 50 mark to indicate a contraction in the sector for the first time since April 2003.
The euro was changing hands at $1.3307 against $1.3337 on Friday, ¥154.00 (153.97), £0.6732 (0.6734) and 1.5938 Swiss francs (1.5913).
The dollar stood at ¥115.74 (115.43) and 1.1979 Swiss francs (1.1931).
The pound was being traded at $1.9768 (1.9802).
On the London Bullion Market, the price of gold fell to $644.90 per ounce, from $648.75 late on Friday.
Source: http://www.fin24.co.za/
In overnight Asian trade, the euro hit $1.3367, which was last seen in March 2005, and forged another all-time record of ¥154.18.
At the start of European trading, the euro edged down to $1.3307 compared with $1.3337 in New York late on Friday.
The dollar stood at ¥115.74 from ¥115.43 late on Friday.
The pound meanwhile eased off last Friday's 14-year high of $1.9848.
The greenback fell again in Asian trade on Monday, after surprisingly weak US manufacturing data released on Friday further jolted confidence in the world's largest economy.
Dealers said the euro was set to remain firm ahead of an interest rate call from the European Central Bank on Thursday, when a further quarter-point hike to 3.50% is widely expected.
The dollar has come under pressure in recent weeks from signs that the US Federal Reserve's next interest rate move could be down - in stark contrast to the ECB. American borrowing costs currently stand at 5.25%.
"We see the greenback remaining under pressure throughout the week, though heading into Thursday's ECB press conference we could see some profit taking," said Commerzbank analyst Gavin Friend.
Further afield, November's US nonfarm payroll report was due for release on Friday. Analysts' consensus forecast is for nonfarm payrolls to have increased by 120 000 last month.
"We would need a number well above 150 000 in order to generate any positive dollar reaction after soft US data last week," added Friend.
Despite clawing back some losses on Monday, sentiment towards the dollar remained negative, dealers said.
"Although the market afforded the dollar some respite ... the currency has been robbed of support from a recent spate of particularly disappointing US economic data releases," added Neil Mellor at the Bank of New York.
Losses on Friday were triggered by the Institute for Supply Management's index of US manufacturing activity, which dropped to 49.50 from 51.2 in October, falling below the 50 mark to indicate a contraction in the sector for the first time since April 2003.
The euro was changing hands at $1.3307 against $1.3337 on Friday, ¥154.00 (153.97), £0.6732 (0.6734) and 1.5938 Swiss francs (1.5913).
The dollar stood at ¥115.74 (115.43) and 1.1979 Swiss francs (1.1931).
The pound was being traded at $1.9768 (1.9802).
On the London Bullion Market, the price of gold fell to $644.90 per ounce, from $648.75 late on Friday.
Source: http://www.fin24.co.za/
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