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Euro jumps on central.banks announcement

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By Muhammad Iqbal
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poiuNEW YORK: The euro pared some of its gains against the dollar that were brought on by news on Thursday that the European Central Bank would, along with other major central banks worldwide, reintroduce three-month dollar liquidity tenders in the fourth quarter.

The rose as high as $1.3937 according to electronic trading platform EBS after the announcement and last traded at $1.3874, still up 0.9 percent on the day.

The currency pair traded at $1.3775 prior to the announcement.

Copyright Reuters, 2011

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