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The euro hits its highest since May 2018 against the dollar

18/08/2020
Source : Dow Jones Newswires French
Categories: Economy/Forex

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The euro gained 0.6% against the dollar on Tuesday at 3:20 p.m., to 1.1942 dollar, reaching its highest since the beginning of May 2018. The single currency benefited from the weakening of the greenback, due to a resurgence of the risk appetite. "An American indicator, housing starts in July, was better than expected, supporting the idea of an improving economic situation," said Nordine Naam, currency strategist at Natixis. “This contributes to strengthening the appetite for risk, a phenomenon which, as in recent weeks, penalizes the safe haven status of the dollar for the benefit of other currencies”, continues the strategist. ([email protected]) editor: DID

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