Euro gains again on dollar

THE euro continued to gain ground against the US dollar yesterday, following the announcement last Friday of more job losses in the US.

Having opened at $1.1054 it closed at 1.11 and a minority of economists believe the dollar will continue to lose ground. But even economists who argue the other way have softened their forecasts.

Earlier in the year Bank of Ireland was forecasting the Euro would be worth just $1, only to see it rise to $1.19 as concerns about the US economy grew.