Euro touches seven-month high vs. dollar

Euro rose to the highest since November 9 versus the dollar in American trade after earlier data from the euro zone and the US, the world's largest economy. 

As of 04:28 GMT, EUR/USD rose 0.59% to 1.1277 from the opening of 1.1211, with an intraday low at 1.1198, and a seven-month high at 1.1296.

Earlier data from Germany showed the final reading for consumer prices down 0.2% as before, while employment change for the whole region rose 0.4% in the first quarter, beating expectations of a 0.3% rise, as industrial production rose 0.5% as forecast, up from 0.2% in April.

Earlier data from the world's largest economy showed consumer prices down 0.1% in May, as retail sales also declined 0.3% unexpectedly last month, while analysts predicted a 0.1% rise.  

The markets now await the Federal Open Market Committee's policy decisions later today; expected to tighten its policy and raise interest rates by 25 basis points to between 1.00% and 1.25%, while policymakers are expected to unveil their three-year forecasts for inflation, unemployment, growth, and interest rates.