Source Pravda.Ru

Investors eye Ireland's debt problems

42368.jpegThe euro came off a near seven- week low against the dollar on Tuesday, helped by above-forecast German data, and as investors waited to see whether euro zone ministers could agree a solution to Ireland's debt problems.

Analysts said the euro may earn a reprieve if the finance ministers meeting in Brussels reach a deal, which would temper concerns the debt crisis could spread to Portugal and suck in bigger states, Reuters reports.

The dollar remained stable against major counterparts on Tuesday, as traders geared up for a deluge of data on the US economy.

Renewed fears that sovereign debt problems will spread beyond Ireland and cripple the European recovery have allowed the dollar to stabilize versus the euro over the past week.

European finance ministers are meeting in Brussels today, and are expected to discuss plans to bail out Ireland if called upon to do so.

The dollar was firm at $1.36 against the euro, keeping most of its recent comeback. Earlier in November, the dollar hit a 10-month low near $1.43, RTTNews reports.

 

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