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Euro Posts Steady Gains

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Last Updated : May 24 2000 | 12:00 AM IST

The euro was in slightly better shape on Tuesday having gained almost two cents since last week's record low, while the dollar was little changed against the yen.

Sustained weakness in the US tech-heavy Nasdaq index, which fell over 200 points at one stage overnight, encouraged a short-covering bounce in the euro above 90 cents on Monday, and it held onto most of that gain by late Tokyo.

The euro was at $0.9060/70, having climbed as high as $0.9073 on Monday in New York from a low around $0.8845 on Friday.

Against the yen, the single currency stood at 96.86/96 compared with 96.89/7.05 in late New York on Monday.

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First Published: May 24 2000 | 12:00 AM IST

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