The euro sold off from highs

Friday, 8 April 2011 08:21

The euro sold off from highs after the European Central Bank's widely expected interest rate rise and a broad sell-off in the yen stalled.

Oil closed at two-and-a-half year highs, as civil war in Libya and unrest in the Middle East continued to stir fears of supply disruptions, gold continued its climb on worries about commodities-fuelled inflation.

The euro traded around $1.4310, down from a 14-month peak around $1.4350 reached on Wednesday, and eased to 121.80 yen. The dollar was around 85.13 yen, below a six-month high around 85.54 yen set on Thursday.

Brent crude easing 3 cents to $122.64 a barrel and U.S. crude down 2 cents at $110.28. Gold traded around $1,457.90 an ounce, having hit a record around $1,464 on Thursday.