Today, euro gained against the US dollar as the US is still much worried about its economic recovery. This has hampered the dollar appeal for the US investors, increasing the euro appeal.
With the stress test results indicating that just seven banks required to raise capital, the appeal for euro has enhanced. However, investor concerns on the economic recovery in the US are increasing. The analysts expect the GDP to rise by the annual rate of 2.5% in the recent quarter, as compared to 2.7% in the earlier 3 months. The government will release the GDP report tomorrow.
The pair of EUR/USD moved up from 1.2994 to 1.3074 at 8:36 GMT.
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