The euro traded at the highest level in more than two weeks as the analysts predicted that the government reports would show that the German economic recovery is gaining momentum.
The factory orders in Germany grew 0.5 percent in July, following the 3.2 percent growth in the previous month according to the economists’ estimates. The experts also estimated that the industrial production rose 1 percent. The good economic forecasts damped the demand for the safety of the dollar.
EUR/USD traded near 1.2902 as of 8:13 GMT today after it opened at 1.2892 and rose to 1.2917, the highest level since August 18th.
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