Euro hits six-month high; Sterling falls

'More consistent upward move euro has seen in years'

Tom Eckett
clock • 1 min read

The euro hit a six-month high versus the US dollar on Tuesday after the region produced stronger-than-expected economic data.

According to the Telegraph, eurozone PMI surveys showed the bloc's firms are on their strongest run since 2011, hitting a score of 56.8. On the news, the euro rose to $1.127, a 6.5% rise since the beginning of April highlighting the continuing progress of the region as political worries wane. Jordan Hiscott, chief trader at ayondo markets, said: "The performance of the euro versus the US dollar has been nothing short of impressive, especially since Donald Trump's policy of high public spending has strengthened the dollar in the last few months. European politics: A distraction or d...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

How big an impact could global elections have on portfolio allocation in 2024?

How big an impact could global elections have on portfolio allocation in 2024?

US, UK and India main focuses

Investment Week
clock 19 February 2024 • 8 min read
Hotter than expected US inflation tempers Fed rate cut expectations

Hotter than expected US inflation tempers Fed rate cut expectations

Annual price growth falls to 3.1%

clock 13 February 2024 • 1 min read
Investors turn defensive in January as rate cut expectations change

Investors turn defensive in January as rate cut expectations change

State Street Risk Appetite index

clock 08 February 2024 • 1 min read
Trustpilot