The Euro continues to trade in the region of a 7-week high against the US Dollar as yet another piece of positive German data lends the common currency support this week.
The Euro to US Dollar Exchange Rate is currently trading in the region of 1.3348 as of 10:45 GMT
A report published this morning by the Federal Statistics Office showed that German exports outpaced imports by more than anticipated in June.
In the latest in a string of signs that the German economic recovery is picking up, exports climbed by 0.6 per cent month-on-month following a 2 per cent decrease in May.
May’s drop was also positively revised.
Although the 0.6 per cent advance was lower than the 0.9 per cent gain predicted by economists, imports unexpectedly fell by 0.8 per cent rather than increasing by 0.5 per cent.
The Euro to US Dollar (EUR/USD) exchange rate hit a high of 1.3369 pence per Euro
In response to the data one Frankfurt based analyst commented: ‘Exports will probably rise slowly over the following months as growth in North America picks up and countries based in the Euro area recover. Germany will grow faster than other Euro area countries as domestic demand also increases.’
After slipping against a broadly softening Pound yesterday the Euro was able to strengthen modestly against its British peer as the European session progressed. However, Sterling has largely retained the gains recorded yesterday in the aftermath of the publication of the Bank of England’s inflation report.
Additional Euro/US Dollar movement could occur this afternoon as initial US jobless claims figures are released.
Current Euro (EUR) Exchange Rates
< Lower > Higher
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3348 >
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8611 <
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4749 <
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6741 >
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7493 <
The Pound Sterling /Euro Exchange Rate is currently in the region of: 1.1612 <
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6788 >
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.5964 <
(Correct as of 10:45 GMT)
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