Euro rises to two-week high against dollar

Euro rose against the dollar away from January 18 lows for the fifth straight session, hitting the highest since February 2, following earlier data from the euro zone and the US, the world's largest economy. 

As of 04:42 GMT, EUR/USD rose 0.31% to 1.2490 from the opening of 1.2451, with a two-week high at 1.2510, and a session-low at 1.2448. 

Earlier Italian data showed the trade surplus rose to 5.25 billion euros from 4.84 billion in December, beating expectations of 4.44 billion, while the trade surplus for the whole zone rose to 23.8 billion from 22 billion, also beating forecasts of 22.4 billion. 

Earlier US data showed producer prices rose 0.4% in line with expectations in January, compared to a 0.1% dip in December, while core prices rose 0.4%, compared to a 0.1% slip, and beating expectations of a 0.2% increase. 

Unemployment claims rose 7 thousand to 230 thousand from 223 thousand in the previous reading, above expectations of 229K, while the Philly manufacturing index rose to 25.8 from 22.2 in January, beating forecasts of 21.5. 

The Empire State Manufacturing Index fell to 13.1 in February from 17.7 in January, while industrial production fell 0.1% in January, compared to a 0.4% rise in December, revised from a 0.9% increase, while analysts expected a 0.2% rise. 

The Capacity Utilization Rate fell to 77.5% from 77.7% in December, revised from 77.9%, and missing expectations of 78.0%.