US dollar hits 2-month high

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Source: Bloomberg
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The US dollar hit a 2-month record high against the euro, before bond auction on concern that Standard & Poor's may reduce national debt ratings in the euro area. The greenback touched $1.3161 against euro on Tuesday, highest since October 4. The dollar is appreciating on euro weakness, said Sacha Tihanyi, Scotia Capital's currency strategist. EUR/USD currently is trading at $1.3196. 

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Tue, 13 Dec 2011 09:49:11 GMT

European shares open mostly flat

European equity markets opened generally flat with mining companies gaining and financials declining. Stoxx Europe 600 index added 0.3% reaching 236.76, French CAC 40 index traded flat at 3,088.47 while German DAX 30 index increased 0.4% to 5,808.88 and UK's FTSE 100 gained 0.1% to 5,435.49.

Tue, 13 Dec 2011 17:37:40 GMT

Canada to abandon Kyoto protocol

On Monday Canada became the first nation that claimed it will quit Kyoto protocol. Peter Kent, Environment Minister made an announcement of Canada's abandonment after he returned from summit in Durban. Canada, a leading energy producer has complained extensively that Kyoto protocol does not work as it ignores too many important emitters such as India and China. 

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