12/04/2010: Daily Economic Headlines, Euro Strengthens in Aid Plan for Greece

The Euro strengthened for a third day against the dollar after Greece got an international aid pledge.

  • The Euro rose as high as $1.3692, its strongest level in more than three weeks.
  • Greece got a promise of as much as 45 billion euros ($61 billion) in loans from the euro-region and the International Monetary Fund to help cover its financing needs and avoid a default.
  • Greece’s bailout spurred gains in other eastern European markets (Poland and Hungary).
  • Crude oil for May delivery advanced 0.6 percent to $85.41 a barrel as the dollar decline and imports to China increase.

Source: Bloomberg

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