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Dollar hits 8-month high against euro
- Middle East: Thursday, September 04 - 2008 at 09:12
As the dollar rallied to an eight-month high on Wednesday against the euro and a basket of currencies, analysts predicted a sustainable medium term rally in the greenback, reinforcing the view that Gulf countries will stick to their currency pegs, reported Gulf News. Merrill Lynch says that although the reasons for a change in the pegged regimes in the Gulf remain as strong as ever due to high inflation and negative real interest rates, it did not expect any change in the policy in the short to medium term.
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Jeff Florian, Senior ReporterThursday, September 04 - 2008 at 09:12 UAE local time (GMT+4)
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