The euro rose against dollar amid U.S. economic concerns, according to Bloomberg. The flattering U.S. currency demand was damped after the fed
raised concerns over the issues related to economic recovery.

The euro strengthened against the 16 most traded currencies after US house builders’ data turned out to be negative. The Yen has fallen after Bank of Japan announced easing monetary policy. “The US market’s focus has shifted towards economic recovery from debt crisis”, says Thomas Gibbs, a senior currency strategist.

0.3% gain was witnessed by euro reaching $1.2965 in NY also achieved a  0.7% gain against the Japanese Yen reaching 112.75. An appreciation of 0.4% was recorded against UK pound reaching 84.82 GBP.

According to a report on Reuters, Vodafone is currently the world’s largest mobile network in terms of its sales volume. The telecoms giant was badly affected by the economic downturn in the past, but now the prospects for the company are looking brighter as it returns back to growth for the first time, since the economic downturn.

Vodafone has revealed plans to reconsider their strategy and drive the company towards even healthier profits later this year. The company has been proactively focusing on selling mobile internet bundles, and it has proven to have worked nicely in safeguarding its revenues, whilst a majority of other operators are struggling to survive.

Earlier this week ‘Ontario Teachers’ Pension Plan’ the Canadian based company which holds a 0.4% stake in Vodafone has urged the company to bring about some major structural and strategic changes.

Chief Executive for Vodafone, Vittorio Colao declined to comment on the OTPP’s request and said he would rather focus on the strong first quarter results instead.