European Parliament Passes Law to Restrict Cash Payments to €10,000
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
Dollar Hits New Euro Low
World | January 17, 2003, Friday // 00:00
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The US dollar has tumbled to its lowest level against the euro in more than three years. Defiant comments from Iraqi President Saddam Hussein increased fears the US would take military action in the Gulf region. The euro, which broke through $1.06 on Thursday on news UN weapons inspectors had found warheads in Iraq, extended gains above $1.065 in mid-morning European trade on Friday. "This is a case of the dollar coming under pressure across the board... The market is now positioning itself for a [weapons] find that could trigger a real conflict," said Ian Ballard, senior currency strategist at BNP Paribas.
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