European Session – Euro hits 11-mth high above $1.34
Posted on January 25, 2013 at 1:06 pm GMTThe euro strengthened to an 11-month high against the dollar on Friday as the European Central Bank said European banks will repay more of its loans than economists forecast. These banks obtained cheap three-year loans from the ECB though the LTRO scheme (Longer-Term Refinancing Operations) which the central bank launched last year in an effort to boost liquidity in the financial system at the height of the euro zone banking crisis. The higher than expected number of repayments shows those [..]