Euro Stays Steady Amid US Dollar’s Decrease

The US economic data did not support the dollar, and it fell to a four-week low against major currencies. The dollar index fell to the weakest level since December 1. Initial jobless claims in the US have not changed, and remained at the level of 245 thousand for the week ended December 23.

The euro rose by 0.5% against the US dollar to 1.1946, which is the highest level for the month. The European single currency has grown by more than 13% this year, remaining on the way to its best annual performance since 2003. The ECB's monthly bulletin noted that the economic recovery in the euro area is solid and large-scale. It is expected, that inflation in the euro area will gradually increase.