Euro rises for second straight session against dollar
2018-03-13 16:36:05 GMT (
Euro rises for second straight session against dollar

Euro rose against the dollar in American trade away from March 5 lows for the third session, following earlier data from Italy and the US, while the Euro Group meets in Brussels to discuss various financial and funding issues. 


As of 03:16 GMT, EUR/USD rose 0.31% to 1.2372 from the opening of 1.2334, with an intraday high at 1.2385, and a low at 1.2315. 


Earlier Italian data showed the unemployment rate fell to 11% as expected in the fourth quarter, down from 11.2% in the third, while European Central Bank member Philip Lane dismissed in earlier remarks any euro-related risks currently, while still warning from sudden increases in value.  


Lane said if euro moved too erratically in the next weeks, the ECB should study the issue, while otherwise, European Commission President Jean-Claude Juncker said that US tariffs on aluminum and steel imports are the wrong policy, calling for the US to be more clear about the exemptions given to some countries. 


Juncker said the EU is ready for a quick response on these tariffs, and to file a complaint with the World Trade Organization, asserting that the EU will protect European markets from the ramifications of these decisions. 


Otherwise, Earlier US data showed consumer prices slowed down to 0.2% as expected from 0.5% in January, while core prices slowed down as well to 0.2% from 0.3% in January. 


On a yearly basis, consumer prices accelerated to 2.2% as expected from 2.1% in January, while core prices steadied at 1.8% in line with expectations.


US President Donald Trump abruptly fired Secretary of State Rex Tillerson and put in his place CIA Director Mike Pompeo, becoming another sign of instability in the administration. 

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