European Session – Optimism about global economy drives euro higher
December 9, 2013 2:01 pm
The euro gained during today’s European trading, on optimism that there were positive signals for the global economy.
The euro gained 0.18% against the dollar to trade at 1.3720, close to the day’s high of 1.3748 registered earlier during the Asian session.
The euro was also up 0.20% against the yen at 141.40.
Positive economic news often helps currencies that benefit more from global economic growth and hurts relative safe havens such as the yen and the dollar.
Most stock markets are also finishing the year either at all-time or at multi-year highs, which is boosting risk sentiment.
The latest positive news was released over the weekend from China, as both exports and imports grew strongly for the world’s most populous nation.
The news came on the heels of a much better-than-expected November employment report from the United States on Friday. Optimism about a stronger economy in the US overcame concerns about the possibility that the Federal Reserve will soon reduce the amount of monthly asset purchases.
The dollar was flat versus the yen at 103.03.
The pound managed to add to its earlier gains against the US dollar to trade at 1.6380. The pound was not far from its 11-month high of 1.6441 that was recorded the previous week.
The euro gained during today’s European trading, on optimism that there were positive signals for the global economy.
The euro gained 0.18% against the dollar to trade at 1.3720, close to the day’s high of 1.3748 registered earlier during the Asian session.
The euro was also up 0.20% against the yen at 141.40.
Positive economic news often helps currencies that benefit more from global economic growth and hurts relative safe havens such as the yen and the dollar.
Most stock markets are also finishing the year either at all-time or at multi-year highs, which is boosting risk sentiment.
The latest positive news was released over the weekend from China, as both exports and imports grew strongly for the world’s most populous nation.
The news came on the heels of a much better-than-expected November employment report from the United States on Friday. Optimism about a stronger economy in the US overcame concerns about the possibility that the Federal Reserve will soon reduce the amount of monthly asset purchases.
The dollar was flat versus the yen at 103.03.
The pound managed to add to its earlier gains against the US dollar to trade at 1.6380. The pound was not far from its 11-month high of 1.6441 that was recorded the previous week.
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