Euro at its highest level in 11 months, with the erosion of economic concerns

Gaining profit take place in the market before the US data

Euro rebounded yesterday against various major currencies, due to increasing signs of recovery and the economic confidence in Europe zone. While the yen downed to the lowest level in two and a half years against the U.S. currency, amid expectations of more monetary easing measures in Japan. The euro was steady near its highest level in 11 months against the US dollar.

The euro rose to its highest level against the pound in more than 13 months, extending gains from last week for the signs of economic improvement in Germany, and rising concerns about the growth of the British.

  • The euro 0.4% to 85.55 pence, marking the strongest rate since mid-December 2011.
  • The euro rose to its highest level in eight months against the Australian dollar.
  • The euro rose 0.3% to 1.2950 Australian dollars. Its highest level since late May, while the single currency also rose against the pound sterling.

Euro push down the Australian dollar against the euro currency to decline against the U.S. dollar as well. The Australian currency fell 0.35% to $ 1.0388, the lowest price in three weeks.

The data showed on Friday, that the European banks pay larger-than-expected amounts of emergency loans obtained by the European Central Bank during the debt crisis, suggesting growing confidence.

And improved sentiment in the business sector in Germany for the third consecutive month in January, the highest level in more than six months, increased the signs of accelerating growth in Europe’s largest economy again, after shrinking at the end of last year.

The euro was 1.3459 U.S. dollars, unchanged from the level of closures in the United States in the past week, and did not say much about the highest level in 11 months, which touched on Friday 1.3480 dollars mark.