Euro hits four-month low against dollar

THE euro fell to a four-month low against the dollar yesterday, as anticipation of stronger growth in the United States counterbalanced the effects of a German industry report that showed strength in August.

The fall will help Irish exporters to the US and increase the value of repatriated profits from the US by companies like Kerry Group, CRH and Elan.

Continuing the run of impressive US economic figures, the US Commerce Department reported early in the session that durable goods orders in July grew by 1.0%, against an upwardly revised 2.6% surge in the prior month. Excluding transportation, orders advanced by 1.7%.