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December 01, 2010 at 11:08 AM
The U.S. dollar was trading down 1.22% at 0.76 euros. However, over the past month, the U.S. dollar gained about 5% internationally, analysts say. It has risen 4.4% in value year to date.
Its 52-week range is at 0.66-0.84 euro, with its value peaking against the euro in June.
The euro soared Wednesday after reports that the United States would support a larger IMF aid package for Europe. In afternoon trading, the euro traded at $1.3140, up from $1.3011 late Tuesday.
Overall, the euro declined about 10% internationally in November.
Late Tuesday, former Federal Reserve Chairman Paul Volcker, chairman of President Barack Obama’s Economic Recovery Advisory Board, said in New York that the U.S. dollar is in danger of losing its role as a global benchmark currency, according to Bloomberg.
“The growing question is whether the exceptional role of the dollar can be maintained,” Volcker is quoted as saying at the University Club of New York Tuesday night.
Currency ETF Performance
