LONDON, 22 July 2004 — The dollar climbed to a near three-week high against the euro yesterday in the aftermath of US Federal Reserve Chairman Alan Greenspan’s upbeat testimony to the Senate. The single European currency fell to 1.2223 dollars from 1.2328 late on Tuesday in New York. In earlier European trading, the euro slid to 1.2223 dollars, below the 1.23-dollar mark for the first time in two weeks. The dollar climbed to 110.13 yen against 108.63 on Tuesday. The euro was changing hands at 1.2223 dollars from 1.2328 late on Tuesday in New York, 134.56 yen (133.95), 0.6662 pounds (0.6650) and 1.5353 Swiss francs (1.5339).
The dollar stood at 110.13 yen (108.63) and 1.2563 Swiss francs (1.2439).
The pound was at 1.8355 dollars (1.8526), 202.18 yen (201.29) and 2.3059 Swiss francs (2.3043).
Meanwhile, European stock markets rose strongly in trading yesterday.
In London the FTSE 100 index added 0.87 percent to close at 4,377.3 points, in Paris, the CAC 40 gained 0.83 percent to finish at 3,637.47 while in Frankfurt the DAX climbed 1.04 percent to end the session at 3,877.48. The DJ Euro Stoxx 50 index of leading euro zone shares advanced 0.77 percent to 2,728.91 points.
US blue chips rose yesterday. The Dow Jones Industrial Average rose 49.7 points, or 0.49 percent, to 10,198.77. The broader Standard & Poor’s 500 Index gained 1.28 points, or 0.12 percent, to 1,109.95. The technology-laced NASDAQ Composite Index was down 9.42 points, or 0.49 percent, at 1,907.65.
Asian stock markets closed higher yesterday. Hong Kong rose 2.24 percent in relatively heavier volumes while Seoul was up 2.21 percent and Tokyo added 1.56 percent.