FRX: Euro Strengthens on Increased Industrial Production
The Euro gained on the US dollar and the Japanese yen today on reports claiming an increased industrial production in the European Union. The statistical office of the EU, Eurostat, claimed that the industrial production increased by 0.5% in the region between March and April 2010. Additionally, the European Central Bank offered a reassurance that it would continue buying government bonds till the fiscal crisis is resolved, adding confidence in the financial markets. EUR/USD traded at 1.2251 at about 9:37 GMT today, rising from the opening level of 1.2118. EUR/JPY traded at 12.62.
