Euro higher as Italian worries fade

Euro higher as Italian worries fade


The euro continued its recovery in the London trade as discussions between the political parties in Italy try to avoid the need for an early election. That progress towards a viable coalition has come a long way to reduce concerns about a possible political crisis with the emergence of a Eurosceptic government that could negatively affect the stability of the euro zone. The sense of relief among FX traders helped push the Euro to a 3-day peak.

As reported at 11:17 a.m. (BST) in London, the EUR / USD was quoted at $ 1.1685, a gain of 0.16% and outside the peak of the session of $ 1.7243, while the minimum is recorded at $ 1.16481. The EUR / GBP is trading at 0.8771 Pence, 0.11%; the pair has varied from a session minimum of 0.87650 Pence to a peak of 0.87912 Pence.

Highest pound after BoE data

In the United Kingdom, the Pound is receiving some support from the unexpectedly optimistic economic data that pushed the GBP / USD pair higher to $ 1.3319, a gain of 0.26%. According to the Bank of England, the consumer credit for April is up to £ 1,832 million, much more than the £ 1,832 million expected, while the March figure was revised upwards. Net loans to individuals also improved to £ 5.7 billion against forecasts of a decrease of £ 5.2 billion.