Bond yields in the eurozone continue to surge, and that is helping the euro right now. The 19-nation currency is heading higher against the US dollar and some of its other counterparts as yields and economic news provide support.
The euro hit a three-month high against the US dollar earlier, thanks in large part to surging eurozone government bond yields. Stocks are still on the defensive, and the euro is gaining ground.
Also helping the 19-nation currency is the fact that the economic situation is showing some improvement. The eurozone economy is seeing progress, with improvements to GDP, while the US economic data has been disappointingly lackluster. The difference is contributing to gains for the euro right now.
There are still weak points for the euro, however. Leaders are still wrangling over what to do about Greece. At some point, when some of the furor over Greece dies down, attention will turn to other countries in the periphery. Italy has its struggles, even though they have been overshadowed by Greece.
At 11:09 GMT EUR/USD is up to 1.1423 from the open at 1.1354. Earlier, the pair hit a session high of 1.1445. EUR/GBP is up to 0.7233 from the open at 0.7211. EUR/JPY is up to 136.1780 from the open at 135.2900.
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