27 Jul 2015
EUR/USD stretches to fresh 2-week highs
FXStreet (Córdoba) - EUR/USD pushed higher and scored fresh 2-week highs during the American session supported by crosses’ gains and despite the dollar managed to cut losses versus other peers.
Euro resilient despite European stocks slump
The euro shrugged off a strong sell-off in European stocks and climbed above the 1.1120 zone to reach its highest level since Jul 13 at 1.1128 in recent dealings. At time of writing, EUR/USD is trading at 1.1108, 1.21% higher on the day.
Strong demand in EUR/CHF and EUR/GBP has helped the euro to extend gains versus the greenback while concerns about China take central stage and weigh on stocks around the globe after the Shanghai Composite posted its largest fall in 8 years.
The euro also benefitted from stronger-than-expected German IFO data released earlier on the day.
Euro resilient despite European stocks slump
The euro shrugged off a strong sell-off in European stocks and climbed above the 1.1120 zone to reach its highest level since Jul 13 at 1.1128 in recent dealings. At time of writing, EUR/USD is trading at 1.1108, 1.21% higher on the day.
Strong demand in EUR/CHF and EUR/GBP has helped the euro to extend gains versus the greenback while concerns about China take central stage and weigh on stocks around the globe after the Shanghai Composite posted its largest fall in 8 years.
The euro also benefitted from stronger-than-expected German IFO data released earlier on the day.