Markets

Euro hits NY session high vs dollar, pierces $1.45

NEW YORK : The euro rallied to a New York session high on Friday after Federal Reserve Chairman Ben Bernanke said the

Published August 26, 2011 Updated August 26, 2011 05:55pm

1 min

By Abdul Ahad

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Analysts said the choppy trade in currencies and other markets -- stocks swung from losses to gains after Bernanke spoke while Treasuries fell -- reflected concern about the US economy and a realization that US interest rates will stay at record lows for years to come.

The euro was last up 0.8 percent at $1.4494, after reaching a New York session peak of $1.4501. It fell as low as $1.4327 after Bernanke spoke.

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