The euro rose against the U.S. dollar today on the concern for the U.S. economic recovery, which decreased the appeal of the U.S. currency for the investors and increased the attractiveness of the shared European currency.
The euro regained some of its strength after the stress tests showed that only seven European banks required to raise capital. In the same time, the U.S. gives more and more reasons for the concern about its economic growth. The analysts’ estimates say that the gross domestic product rose by the annual rate of 2.5 percent in the last quarter, down from 2.7 percent in the three months earlier. The government report for the GDP will be released tomorrow.
EUR/USD rose from 1.2994 to 1.3074 today as of 8:36 GMT.
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