The euro strengthened against all but one of its 16 most-traded peers in online forex trading, amid anticipation data tomorrow will show the U.S. job market is improving, bolstering optimism the global recovery is being sustained.
The common currency pared gains versus the dollar after an official said Bundesbank President Axel Weber may not seek a second term as head of the German central bank. New Zealand’s dollar weakened versus all its major counterparts after Finance Minister Bill English said it was “possible” the economy slipped into recession in the second half of last year.
The single currency appreciated 0.2 percent to $1.3645 as of 7:34 a.m. in New York from $1.3663 earlier. The 17-nation currency advanced 0.2 percent against the Swiss franc to 1.3154 after reaching its strongest level since Dec. 2. The euro gained 0.4 percent to 112.67 yen, the highest in almost a week. The yen slipped 0.3 percent to 82.58 per dollar for Introducing broker forex.
The European currency was buoyed by expectations U.S. jobless data due tomorrow will support optimism about the global recovery. The number of Americans filing first-time unemployment benefit claims likely fell to 410,000 last week from 415,000 a week earlier, according to a Bloomberg survey of economists.