The euro has crept back up to a two-month high against the dollar as investors take the view that the eurozone debt crisis is easing and the European Central Bank may consider an interest rate rise.
|||The euro has crept back up to a two-month high against the dollar as investors take the view that the eurozone debt crisis is easing and the European Central Bank may consider an interest rate rise.
The 17-nation currency peaked at $1.3685 early Tuesday - matching a two-month high reached the previous day, and up from $1.3638 late Monday.
Investors' perception that European officials will soon produce a more comprehensive solution to the continent's long-running crisis has helped calm tensions.
Recent ECB warnings on above-target inflation have fed speculation that the bank could lift interest rates. Higher rates can support a currency.
The pound slipped to $1.5969 from $1.5995 ahead of British fourth-quarter economic growth figures. The dollar was barely changed at 82.46 yen from 82.49. - Sapa-AP
Source: http://www.iol.co.za/euro-creeps-higher-1.1016782
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