The euro has risen against both the dollar and the yen once more this morning as improving demand for riskier assets continues to push European equities higher. The single currency remains near its strongest level against the dollar in more than two months after European stocks climbed. Eurozone M3 money supply rose by 0.2% Y/Y versus expectations for a 0.1% decline.
Meanwhile sterling has strengthened against the greenback following recent GDP data and after a leading think-tank announced that Britain will avoid a double-dip recession and its economy will expand at trend growth rates as early as 2012.
Currency Market Updates
Disclosure: long euro