The euro tops $1.20 for the first time since 2015
Main page Digest, dollar, euro, European Union

The euro has pushed above the 1.20 mark against the U.S. dollar on early Tuesday trading, The Street reports.

It is the best performance of the European currency since January 2015.

The single EU currency has gained more than 6.7% this quarter and more than 14.% this year agains dollar.

It started to surge rapidly after European Central Bank President Mario Draghi held back last week from talking down the shared currency.

No doubts, it was also the result of a strong blow to the U.S. Dollar from Hurricane Harvey, rather than from the aggressive advantage of EUR.

Additionally, preliminary U.S. wholesale inventories for July came in as expected at 0.4%, undercutting the previous month’s 0.7% growth, with the ICE U.S. Dollar Index DXY, a broad measure of the greenback against six other currencies, down 0.4% at 92.3370.

Moreover, the WSJ Dollar Index BUXX was 0.2% off at 85.48 on Monday morning.

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