Euro Rises Against Dollar as ECB Plans to Buy Covered Bonds
May 7, 2009 by admin · Leave a Comment
The euro advanced against the dollar after the European Central Bank said it will purchase covered bonds to lower borrowing costs and counter the economic slump. The 16-nation currency also rose versus the yen after ECB President Jean-Claude Trichet said policy makers decided “in principle” to buy euro-denominated covered bonds. The bank cut the region’s [...]
