The euro has gained 2.5% against the US dollar this week, climbing on the back of heightened risk appetite in the market. Figures this week show the European trade surplus has improved, while positive retail sales and housing figures in the US have boosted optimism over the state of the global economy. The safe haven Swiss franc, US dollar and yen have all declined at the expense of the euro recently.
The global optimism has also extended to equity markets, where the MSCI world index has improved to an 11-month high. Economists are predicting the dollar will continue on a downward trend as demand for its safe haven characteristics declines.
Currency rates for the US dollar are currently at GBP0.6055 and EUR0.6796.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.