The euro climbed against the US dollar and rose versus the Great Britain pound as German business climate continue to improve and Spanish unemployment shrank. The currency fell for the second day against the Japanese yen, erasing the big advance that it has made on Wednesday.
The German Ifo Business Climate Index rose for the third straight month, advancing from 105.9 in June to 106.2 in July. Spanish unemployment ticked down by 0.9 percentage point to 26.26 percent in the second quarter of 2013. As for the negative news, the annual growth rate of M3 Money Supply decreased to 2.3 percent in June from 2.9 percent in May.
European fundamentals reports were mostly positive recently, improving the outlook for the eurozone. Speculations that the US Federal Reserve will maintain stimulus also helped the currency, especially against the dollar.
EUR/USD jumped from 1.3198 to 1.3275 yesterday and stayed near this level today as of 1:52 GMT. EUR/GBP traded at 0.8626 after rising from 0.8618 to 0.8627. EUR/JPY declined from 132.28 to 131.81 on the previous trading session and traded at about 131.74 at the current session.
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