Euro hits one-year peak vs. dollar

Euro kept rising against the dollar for the second session in a row, marking the highest since June 24, 2016, after earlier data from the euro zone and the US, the world's largest economy. 

As of 04:35 GMT, EUR/USD rose 0.11% to 1.1351 from the opening of 1.1339, with a one-year high at 1.1391, and an intraday low at 1.1292. 

Earlier euro zone data showed import prices falling more than expected in May, while M3 money supply and private loans rose for the whole region in the same month, as ECB governor Mario Draghi spoke at the European Central Bank Forum on Central Banking, in Portugal. 

Draghi noted that all growth indicators for euro zone economies are above average, pointing to some of evidence of accelerated growth, while asserting the ECB will follow a gradual path when attempting to change the monetary policy, while inflationary pressures remain unsustainable, therefore the current monetary easing policy will carry on as the recovery continues. 

These remarks were priced in by the markets as bullish and an indicator for policy tightening soon, and maybe a trimming down of the asset purchase program by September, but several statements from ECB sources today asserted that markets misunderstood Draghi yesterday as he pointed to weak inflationary pressures. 

The sources said Draghi's comments about changing the monetary policy don't necessarily mean tightening it, as the ECB believes in continuing its stimulus program to underpin growth for the time being. 

Otherwise, earlier US data showed the goods trade deficit shrinking more than expected, while wholesale inventories rose past expectations in May, as pending home sales fell unexpectedly last month.