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27 Nov, 2010, 11.05AM , AGENCIES
Dollar's rise continues on euro fears
WASHINGTON: Europe's debt woes continued to dominate currency markets on Friday, with the dollar gaining against the common European currency .
The euro slipped to 1.3247 dollars at around 2100 GMT, from 1.3360 dollars on Thursday, while the greenback fell against the Japanese currency to 84.07 yen versus 84.82 the day before.
Worries about eurozone debt and tensions on the Korean Peninsula again dominated markets, with both concerns causing a flight to the dollar -- which is seen as less risky than most currencies.
A massive Irish bailout has so far been unable to calm financial markets, where there is now concern that Portugal and Spain, also struggling to close gaping public deficits, will follow Ireland's lead and ask for outside help.
"The fact that the negotiations with Ireland seem to be progressing well did not seem to take the pressure off the euro," said analysts at Commerzbank .
"It is obvious that markets have already moved on from Ireland and are now concentrating on Portugal and Spain.
In late New York trade, the pound fell to 1.5589 dollars, from 1.5761 dollars on Thursday.
The dollar rose slightly to 1.0030 Swiss francs from 1.0006.
Dollar's rise continues on euro fears
WASHINGTON: Europe's debt woes continued to dominate currency markets on Friday, with the dollar gaining against the common European currency .
The euro slipped to 1.3247 dollars at around 2100 GMT, from 1.3360 dollars on Thursday, while the greenback fell against the Japanese currency to 84.07 yen versus 84.82 the day before.
Worries about eurozone debt and tensions on the Korean Peninsula again dominated markets, with both concerns causing a flight to the dollar -- which is seen as less risky than most currencies.
A massive Irish bailout has so far been unable to calm financial markets, where there is now concern that Portugal and Spain, also struggling to close gaping public deficits, will follow Ireland's lead and ask for outside help.
"The fact that the negotiations with Ireland seem to be progressing well did not seem to take the pressure off the euro," said analysts at Commerzbank .
"It is obvious that markets have already moved on from Ireland and are now concentrating on Portugal and Spain.
In late New York trade, the pound fell to 1.5589 dollars, from 1.5761 dollars on Thursday.
The dollar rose slightly to 1.0030 Swiss francs from 1.0006.
