Euro World's Best-Performing Currency in 2013
While the dollar was set for its biggest annual gain against the yen since 1979, Euro was to be the world's best-performing major currency in 2013.
The
single currency has gained 26 percent against the yen this year. It
dipped 0.2 percent to 144.78 yen on Tuesday, having set a five-year high
of 145.67 yen on Friday.
Against
the dollar the euro has gained more than 4 percent this year, baffling
many hedge funds who had expected a weak euro zone economy and a
reduction in Federal Reserve bond-buying to strengthen the greenback
this year.
The
euro was 0.2 percent down at $1.3770, as the gap between U.S. two-year
government bond yields and German yields widened, increasing the
relative attractiveness of the dollar.
Source: Reuters
