U.S. dollar soars against euro as world economy recovers

12/21/2009 | Bloomberg

The U.S. dollar continued its climb against the euro as the currencies were driven in opposite directions by economic news. The dollar benefited from growing optimism that the U.S. economy, along with that of the rest of the world, is moving into sustained recovery. The euro weakened in the face of regional credit problems. The European Central Bank warned that financial institutions might be forced to write down an additional $268 billion because of exposure to Eastern Europe and property companies.

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