The euro rose today against the US dollar for the second day as the German inflation grew and the Italian business confidence jumped. The possibility of the credits rating downgrades of the various European countries still may curb gains.
The consumer prices in Germany rose 1.0 percent in December, according to the preliminary report of the Destatis, while the business confidence in Italy climbed to the highest level in almost three years. The speculation that the credit rating of France may be downgraded can potentially reverse the euro’s upward movement.
EUR/USD rose from 1.3224 to 1.3256 today as of 11: 29 GMT.
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