Euro surge continues against dollar

The surge in the euro continues today. The rise in the new currency has brought the Irish punt up to about US$1.17. The euro is hitting six-month highs and experts say the outlook is good. Stock markets have fallen considerably in the US over the past few days, diverting investment in euro assets away from the dollar. Further strengthing of the euro currency is expected this week as the stock markets continue to perform badly in the US.