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Euro Gains for Third Day on US Dollar

December 23, 2016 at 10:44 by Vladimir Vyun

20-euro bill and the map of EuropeThe euro rose today, gaining for the third straight consecutive session on the US dollar, amid the news that Italy decided to rescue its third-largest bank.

Italian cabinet approved a bailout for Monte dei Paschi di Siena, fearing that its downfall may spillover on the rest of the banking sector. As for today’s economic data, the GfK Consumer Climate for Germany showed a reading of 9.9 for January, little changed from the December’s figure of 9.8. France’s household spending rose 0.4% in November, exceeding the analysts’ median estimate of 0.1% growth.

EUR/USD ticked up from 1.0437 to 1.0450 as of 10:34 GMT today. EUR/CHF gained from 1.0704 to 1.0719.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

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