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.