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Dollar near two-month low as strong economic data underpins euro

25 November 2017 01:39 (UTC +04:00)

The dollar fell to its lowest since late September against a basket of currencies on Friday as investors grew optimistic about the strength of the euro zone’s recovery and lost appetite for the greenback, APA reports quoting Reuters.

The euro hit its highest since Sept. 25 against the dollar, up 0.65 percent on the day and more than 1 percent for the week. It was the single currency’s third straight week of gains, its best run since July, and second straight 1 percent weekly gain.

Against the Japanese yen, the euro rose more than 1 percent to 1.3323, its highest since Nov. 16.

“You had good data (this week) from Europe, pretty good news from Germany and nobody guarding the dollar as we’re all eating turkey,” said John Doyle, director of markets at Tempus Inc in Washington.