Euro recovers slighty from it’s 7-week low; GBP/USD rises after CPI news
The Euro kept steady above the 1.40- line, and the 7-week low since March, as it traded between 1.4129 and 1.4174 in today's session against the U.S Dollar. The pair mostly focused at 1.4155 while it's currently trading at 1.4178. Portuguese bailout news eased the euro's downward spiral against the Dollar, finding support for the currency at 1.4150.
News report for Britain's Consumer Price Index were released better than expected at 4.5% while it was predicted than the average price of average goods and services were to be released at 4.2%; with previous CPI report was released at 4.0%. So, the increase in U.K's Consumer Price Index helped boost U.K's currency to 1.6283 against the U.S Dollar. Sterling traded quietly against the Greenback prior to the news, keeping at 1.6195 as it opened today's session at 1.6204; reaching a low of 1.6174.
