LONDON, 25 March 2004 — The euro sank to its lowest level in nearly two weeks against the dollar yesterday after two of the European Central Bank’s leading officials sparked speculation euro-zone interest rates could be heading lower as early as next week.
The single European currency stood at 1.2215 dollars against 1.2338 late on Tuesday in New York.
US stocks sputtered yesterday, with investors still cautious over the tense geopolitical situation and an uncertain US economic outlook. After spending most of the morning drifting in a narrow range, the Dow Jones Industrial Average was up 4.44 points (0.04 percent) at 10,068.08 and the NASDAQ up 8.74 points (0.46 percent) at 1,910.54 at 1640 GMT.
Asian shares closed mixed yesterday, showing some resilience to bad news in the Middle East and political uncertainties in the region following Taiwan’s disputed presidential election but no one expects any sharp recovery very soon, dealers said.
