Euro climbs for first time in three sessions vs. dollar

Economies.com
2017-06-21 16:13PM UTC

Euro tilted higher in American trade amid a lack of data from the euro zone, and following housing data from the US, the world's largest economy. 

 

As of 05:05 GMT, EUR/USD rose 0.09% to 1.1144 from the opening of 1.1134, with an intraday high at 1.1156, and a low at 1.1128. 

 

Earlier US data showed existing home sales rose 2.3% in May to an annualized 5.62 million units, compared to a 2.5% drop in April to 5.56 million, while analysts expected a 0.4% drop to 5.55 million. 

 

Otherwise,  US treasury secretary Steven Mnuchin called on Congress to raise the debt limit as soon as possible, pointing to September as a good time to do it, while expecting tax reform plans to finish up later this year, saying the treasury ministry plans wide reforms beside taxes. 

 

Mnuchin also talked about the surging value of the dollar, noting its negative impact on exports, while asserting that dollar's strength reflects the markets' confidence in the US administration and president Donald Trump's performance, and finally, Mnuchin said he didn't take a decision yet on whether to keep Yellen at her job as the Federal Reserve Governor or hire a different one. 

 

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