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Euro at its Highest Level in 4 Months

Adel 15 July, 2020 11:51 am Forex Market, Market Update

The euro rose during the European morning, hitting its highest level in four months after increasing demand with Federal Reserve Governor Lil Brainard hinted that the US needed an easier monetary policy.

EUR/USD rose 0.1% to 1.1408, after reaching its highest level since March 10 at 1.1423 earlier in the session. EUR/GBP was down 0.2% to 0.9060 and stronger inflation figures gave some support GBP.

In addition, the dollar index, which tracks the greenback versus a basket of six currencies, fell 0.1% to 96.093, GBP/USD rose 0.4% to 1.2595 and USD/JPY was steady at 107.23.

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