Sunday, April 22, 2012

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Euro Gains On U.S Dollar After Positive German Data

Posted: 20 Apr 2012 12:51 PM PDT

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The Euro made its biggest gains against the U.S Dollar during Friday’s trading due to an unexpected rise in German business confidence, resulting in investors leaning towards riskier assets.

The single currency also appreciated versus the Japanese Yen as there is speculation that the International Monetary Fund will increase its lending capacity to help keep Europe’s debt crisis at bay. Elsewhere, the British Pound saw gains over the the greenback for a fifth day after positive Retail figures whilst the Canadian dollar also appreciated as a result of an increase in consumer prices.

The 17 -nation currency rose 0.6 percent to the level of $1.3215 and briefly reached $1.3225 which would be the highest level since the first week of April. The Euro also rose 0.6 percent against the Yen, whilst the Asian currency showed little changes against the U.S dollar.
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