Euro falls as markets react to French vote

capt_buzzard · Post by **capt_buzzard** » Tue May 31, 2005 3:29 pm

The EURO fell against the dollar,yen and sterling, and long-term interests rates rose, as markets responded to the uncertainty created by the French rejection of the EU constitution.

The falls were small, with markets already having bet correctly on the result. The euro has fallen 3pc this month and figures today showed hedge funds and other large speculators had the biggest ''sell'' positions on the euro in five years.

The euro fell below $1.25 and 60p sterling, hitting a seven month low against the dollar and trading around $1.2470. Movements may have been affected by the bank holiday in London.

www.unison.ie

finance

Philadelphia Eagle · Post by **Philadelphia Eagle** » Tue May 31, 2005 5:06 pm

We have a saying in America - "This bird ain't gonna fly!"

David813 · Post by **David813** » Tue May 31, 2005 5:09 pm

If I were a European supporter of one of the capitalist parties I would want my country part of an economic alliance that could lead the globe one day. But as a communist I am pleased to see it flailing without it's strongest member! It's good news for workers.