The euro rose today, reaching the highest level since November 2011 against the US dollar and the highest since April 2010 versus the Japanese yen, after a report showed improvement of the European economic confidence.
The European Commission reported that the Economic Sentiment Indicator for the eurozone rose from 87.8 in December to 89.2 in January. The actual value beat the forecast 88.2. The index advanced for the third straight month, but remained well below the long-term average. Fundamental data was showing recently that the economy of the euro-area is stabilizing and today’s report added to the good signs.
EUR/USD climbed from 1.3489 to 1.3542 and EUR/JPY jumped from 122.35 to 123.67 as of 12:19 GMT today.
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