Euro falls again to a new low
Saturday 29 May 1999
The fall wiped out earlier gains that followed comments by Hans Tietmeyer, the Bundesbank president, that he "would not be happy" if the euro declined further. The euro rose half a cent to an intraday high above $1.05 but fell to $1.0435 in later European trade. Analysts said dealers would test $1.0345, equivalent to the dollar/D-mark high in August 1987, to see if there was support for the currency. The euro has fallen 12.5 per cent since its launch amid outlooks for sluggish growth in Europe and robust US growth.
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