Strong German industry data pushes euro to near three-week high
Thursday, 5 July 2018 16:09 WIB | CURRENCIES | Euro
The euro climbed half a percent to near three-week highs on Thursday following strong German data, though gains were capped before the release of Fed minutes later in the day.
German industrial orders bounced back in May with a stronger-than-expected jump after four consecutive monthly drops, as demand from domestic customers and the rest of the euro zone picked up.
In early London trading, the single currency rallied to a high of $1.1711, just shy of a three-week peak of $1.1722.
But with a deadline for Washington to impose tariffs on Chinese imports also due, markets remained rangebound.
The offshore yuan was broadly steady at 6.6466 per dollar, some distance from Tuesday's 11-month low of 6.7344, following reassuring remarks from Yi Gang, governor of the People's Bank of China (PBOC).
The dollar's index against six rivals was 0.34 percent lower at 94.34, its lowest level in a week.
Source : Reuters.
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