Euro Hits a 2-month High
The single currency bounced back earlier today when it hit a 2-month high against the US dollar. Investors were eagerly waiting to learn about Fed’s latest powwow to determine where the bank’s asset purchase program was going. Last week’s data which showed the U.S. economy growing 2.5 percent far from expectations that hovered around three per cent. Euro has benefited from the negative US data and the single currency pressed higher regardless of anticipations that the European Central Bank would slash rates at its meeting on Thursday following latest remarks by ECB officials. Most observers expect the ECB to adjust rates in case economic data continues to worsen. Data on Tuesday exhibited sigs that eurozone joblessness increased to a record 12.1 per cent in March, though inflation fell significantly more-than-expected in April.