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Euro Reaches All-Time High Against Dollar
- By Didier Delmer
- Published 21/09/2007
- Economy, Markets
- Unrated
Didier Delmer
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Entrepreneurs and CO Ltd
145-157 St John Street - London EC1V 4PY
Chartered Accountants & Business Advisers, at Entrepreneurs & Co (ENC), we appreciate the value of working together as a team.
Because the flow of ideas is encouraged at ENC and everyone feels free to express their opinion with regard to work related matters it has by the very nature of being, created a dynamic work environment. As a team we all recognise our responsibility in making Entrepreneurs and Co what it is.
The reputation of the whole firm is in the hands of each individual and we are proud of being part of such a strong team. Together we encourage and motivate each other in a dynamic environment so that as a team we can provide innovative and profitable solutions for individuals and businesses.
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Every client is unique and deserves a unique service. Our philosophy is to put our clients first - to understand their situation and provide a first class service tailored to their specific needs.
Because we establish a one-to-one relationship with each client we are able to offer timely, individual advice on how to improve your business or personal finances.
As leading edge accountants we have developed the traditional bookkeeping, auditing, and accounting services into innovative client-focused services that provide not only all the reliable background support you would expect from a professional firm but also forward-thinking advice on how to improve your situation.
We have also developed a new range of accounting services to meet the needs of modern businesses, including a comprehensive business advisory service. Whether you need help with growing your business or advice on optimising your personal or family finances, we are here to help you get the best results.
The dramatic half-point cut in U.S. interest rates announced this week, while aimed at shoring up U.S. credit markets, also had the effect of further weakening the dollar versus other currencies by reducing the cash yield on dollars. A lower dollar can make travel more costly for U.S. residents and can also pose the risk of making imported goods more expensive over time.
The euro breached the $1.40 barrier against the dollar on Thursday. That level had long been seen as a key benchmark in terms of solidifying the euro's position on currency markets and giving it momentum toward becoming a reserve currency of choice - a position long held by the now-weakening dollar.
The 13-nation euro bought as much as $1.4064 in morning trading in Europe before falling back slightly to $1.4040, above its previous high Wednesday night of $1.3987, and more than the $1.3964 it bought in late New York trading.