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Euro Higher Than Ever Against Dollar

First Posted: 07-15-08 07:24 AM   |   Updated: 07-23-08 05:12 AM

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New York Times:

PARIS -- Financial stocks were pushed lower Tuesday in Asia and Europe and the euro hit a record against the dollar as new concerns about the global financial system rose to the fore.

"People are thinking this is the next wave" of the crisis, said Paul Robson, a currency strategist at Royal Bank of Scotland Group in London. "Investors are taking flight from troubles at the U.S. regional banks."

Television showed footage of depositors in southern California, lined up to get their money back from branches of IndyMac Bancorp, the large lender seized by U.S. regulators Friday.

Read the whole story: New York Times

Filed by Dave Burdick  |  Report Corrections