USD plummets against Euro

Last year, the strength of the USD against the Euro came as a great surprise to currency traders and economists, alike, who believed it was only a matter f time before fundamental factors caught up with the dollar. In the last few months, however, the Euro has steadily climbed against the USD, all without much fanfare. This week, it crossed a psychological barrier and reached the milestone of 7-month high. The currency has been buoyed by strong economic indicators, notably German business confidence data. Marketwatch reports:

“The euro strengthened across the board as strong data and official comments contributed to expectations the ECB could ramp up its tightening path.”

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