European currency shining at 13-month high

Wednesday, 4 May 2011 05:19

The Euro is trading better against the Greenback than it has for the past year and a half passing the border of 1.49, trading at 1.4927; a 17-month peak.  The news releases have been on a roll today, announcing Retail Sales during the European Session and ADP Employement change in the US.  The European Currency was not affected by the lower than expected Retail Sales and really pushed its barrier when US ADP figures were released lower than the US forecasted.  The US release pushed the Euro higher against the Dollar.

The EUR seems to be in for the challenge seen last in 2009, the 1.50 zone.

EUR/USD is currently trading at 1.4921

EUR also rocketed to a 13-month high versus GBP at 0.9028. Currently trading at 0.9015