Euro, sterling post gains on broadly weaker dollarThis article was originally published in Dairy Markets
Breaking two days of gains the dollar slid across the board in early European trading on Thursday. The euro rose to session highs amid doubts over the proposed $700 billion US Treasury's bailout plan. The euro was trading at €1 = $1.4761 at 0648 GMT, just down from a session high of €1 = $1.4768, which was back to its level on August 27. The greenback has fallen 6% against the euro since touching a one-year high of €1 = $1.3882 on September 11. Against a basket of six major currencies the dollar fell 0.8% to 76.349, after touching 75.890 on Monday, September 22, its lowest since August 13.