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U.S. dollar declines against euro amid upbeat German data
The U.S. dollar declined against the euro on Tuesday after upbeat German economic data boosted the common currency.
A monthly survey published Tuesday by a German economic research institute showed the economic sentiment for Germany has risen sharply in December 2019, buoyed mainly by better-than-expected exports data.
The Leibniz Center for European Economic Research in Mannheim (ZEW) said the latest round of survey showed its indicator of economic sentiment for Germany has climbed to 10.7 points in December, 12.8 points higher from the previous month.
It is the indicator’s first reading above zero since May 2019 and the highest value since February 2018, according to the ZEW.
The dollar index, which measures the greenback against six major peers, fell 0.23 percent at 97.4192 in late trading.
In late New York trading, the euro increased to 1.1095 U.S. dollars from 1.1064 U.S. dollars in the previous session, and the British pound rose to 1.3204 U.S. dollars from 1.3146 U.S. dollars in the previous session. The Australian dollar was down to 0.6813 dollar from 0.6831 dollar.
The U.S. dollar bought 108.73 Japanese yen, higher than 108.62 Japanese yen of the previous session. The U.S. dollar was down to 0.9834 Swiss franc from 0.9879 Swiss franc, and it was up to 1.3230 Canadian dollars from 1.3229 Canadian dollars. Enditem