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Dollar Soars to Biggest Weekly Gain in 3 Years

Greenback posts record advances ahead of G8 meeting

By Jason Farago,  Newser Staff

Posted Jun 13, 2008 5:21 AM CDT
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(Newser) – The dollar posted its biggest gain in almost 3 years this week, soaring 2.5% against the euro and 2.8% against the yen. This morning in London the dollar was trading at $1.54 against the euro, with analysts predicting a rise as high as $1.45 by year's end. European politicians are delighted with the greenback's resurgence; Christine Lagarde, France's finance minister, called it "very satisfying."

"The US is serious about putting a floor under the dollar," one currency strategist told Bloomberg. "Fed officials are saying they are well aware of the link between dollar weakness and higher inflation."

The dollar posted its biggest gains in years this week, with many analysts predicting further rises against the euro and the yen.
The dollar posted its biggest gains in years this week, with many analysts predicting further rises against the euro and the yen.   ((c) matze_ott)
Christine Lagarde, the French finance minister, called the dollar's rise very satisfying.
Christine Lagarde, the French finance minister, called the dollar's rise "very satisfying."   (AP Photo/Claude Paris, file)
The dollar posted its biggest gains in years this week, with many analysts predicting further rises against the euro and the yen.
The dollar posted its biggest gains in years this week, with many analysts predicting further rises against the euro and the yen.   ((c) Manuel Delgado Tenorio)
The dollar posted its biggest gains in years this week, with many analysts predicting further rises against the euro and the yen.
The dollar posted its biggest gains in years this week, with many analysts predicting further rises against the euro and the yen.   ((c) wfabry)
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Dollar is hot topic at G8 meeting this weekend
Reuters

Money • US

 
G8 summit • euro • yen • US dollar • Christine Lagarde

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