IMF support hint hoists dollar

12 April 2012

THE dollar powered further away from parity with the euro today, boosted by hints that the International Monetary Fund would co-ordinate international intervention to prevent any sudden collapse in the US currency.

IMF managing director Horst Kohler, in an interview with the Financial Times, said 'no intervention at all is not the right answer' in the event of a run on the dollar.

The dollar strengthened for the fifth day running, one euro now costing 97.4 US cents, against 97.9 US cents yesterday. A week ago the euro neared 99.9 US cents as fears peaked about the reliability of US accounting. Central banks last combined in September 2000 - then to stem the euro's slide.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in