Euro Gains On U.S Dollar After Positive German Data

By FOREXYARD,  April 20, 2012, 03:51:23 PM EDT

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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.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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