Growth of Euro Goes On

Forex News

The growth of the euro continues. The EUR/USD pair is trading at 1.1370. Yesterday, the euro rose sharply by 1.8% and reached 1.14 level.

Such a rapid growth of the European single currency was caused by comments of ECB President Mario Draghi. Draghi acknowledged that economic indicators demonstrate a growing recovery in the Eurozone and positively reflect inflation. The ECB does not intend to change the current monetary policy until inflation approaches the target of 2%.

The US will publish data on the Final GDP for the first quarter tomorrow. The Preliminary GDP, which was released in May, was 1.2%.