Euro hits two-year high against dollar

December 28, 2013 - 2:13:46 am

LONDON: The euro jumped to its strongest level against the dollar in more than two years yesterday as banks adjusted positions for the year end.

The European Central Bank will take a snapshot of the capital positions of the region’s banks at the end of 2013 for an asset-quality review next year to work out which of them will need fresh funds. This has created some demand for euros to help shore up their balance sheets, traders said.


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