TIMES ONLINE: The euro surged to a one-month high and stock markets in Europe and Asia rallied today as traders welcomed a €30 billion (£26.5 billion) loans package for Greece, agreed by the currency's member countries to help the country tackle its debt crisis.
The euro surged to $1.3691 against the dollar, its highest level since mid-March, although concerns about the long-term nature of Greece's debt burden and worries about how the loans package would be implemented limited its gains.
The euro later dropped to $1.3574. Having fallen off sharply last week, it closed in New York on Friday at $1.3497.
"The euro is firmer as traders took heart from the Sunday announcement of the aid package for Greece,” said Daisuke Karakama, a currency analyst at Mizuho Corporate Bank. >>> Miles Costello, David Charter, Brussels | Monday, April 12, 2010
