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FRANKFURT, Germany (AP) - The surging euro is confounding critics who once doubted it could rival the dollar, pound and yen — but Europe's shared currency still annoys some consumers five years after its introduction in cash form.
In 2006, it has surged in value, rising nearly 14 percent to 20-month highs and is about three or four cents off its all-time high of $1.36 in December 2004. It's a strong turnaround from an initial plunge to as low as 82 cents in 2000.
"When it first started — and even before it hit markets properly, everyone was very skeptical and negative on the whole thing, and that's exactly the performance we saw," said David Jones, chief currency analyst for CMC Markets.
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