The Euro has strengthened to its highest level in two months against the Swiss Franc after demand for safe haven currency’s waned following a rally in higher-yielding government bonds.
Confidence in the global economy is growing as multiple regions and nations begin to post data which shows that various sectors have strengthened to their strongest levels since before the start of the Great Recession in 2007.
The Eurozone is beginning to show signs of a recovery after Spain posted positive data earlier in the week and as unemployment fell in Germany. Data released earlier in Tuesday’s session also showed that retail sales in the region’s largest economy increased far more than economists had predicted. Time and again data is coming in better than forecast.
As demand for safer assets waned the Euro was also able to make gains against the Japanese Yen and firmed against the US Dollar.
“The weaker Franc and weaker Yen are a function of investors buying riskier assets, growing confidence in the world economy,” said Neil Jones, head of European hedge-fund sales at Mizuho Bank Ltd.
Euro (EUR) Exchange Rates
As of 11:20 am GMT
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3644
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8302
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.5298
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6453
The Euro/ Canadian Dollar Exchange Rate is currently in the region of: 1.4598
The Euro/ Japanese Yen Rate Exchange Rate is currently in the region of: 142.5540
The Euro/Swiss Franc Exchange Rate is currently in the region of: 1.2363
The Pound Sterling/ Euro Exchange Rate is currently in the region of: 1.2042
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7327
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6535
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.6076
The Canadian Dollar/Euro Exchange Rate is currently in the region of: 0.6848
Swiss Franc/Euro Exchange Rate is currently in the region of: 0.8088
