The euro reached parity against the dollar today for first time for more than two years on a groundswell of concern about prospects for the US economy following a string of corporate accounting scandals.
The euro reached $1.00 for the first time in 28 months as investors' cautiousness towards US assets dragged down the dollar. The single currency hit a high of $1.0031 in European afternoon trade.
Traders saw no apparent catalyst for the euro's breakthrough, although Friday's unexpectedly weak US consumer confidence data undermined sentiment towards the dollar.
AFP