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.
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Euro falls as markets react to French vote
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Euro falls as markets react to French vote
We have a saying in America - "This bird ain't gonna fly!"
America the Beautiful :-6
website - home.comcast.net/~nmusgrave/
website - home.comcast.net/~nmusgrave/
Euro falls as markets react to French vote
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.
"Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history. There is a tiny splinter group that believes you can do these things. Among them are a few Texas millionaires, or businessman from other areas. Their number is negligible and they are stupid." [font=Arial Narrow][/font]
President Dwight D. Eisenhower Nov. 08, 1954
President Dwight D. Eisenhower Nov. 08, 1954