Euro hits two week high against US dollar

Published on Apr 26, 2024 16:10

Euro firmed up, hitting two week highs above 1.0700 mark against the US dollar. Tepid movement in the US dollar index and firm economic cues from the Eurozone boosted the single currency. Germany`s consumer confidence is set to rise again in May to hit a two-year high as households turned more optimistic about future income. The forward-looking consumer sentiment index rose to -24.2 in May from a revised value of -27.3 in April, survey conducted by the market research group GfK and the Nuremberg Institute for Market Decisions (NIM) showed on Thursday. EURUSD currently trades at 1.0752, up marginally on the day.