Forex News: Euro hits two-month high against the dollar
The euro hit a two-month high against the US dollar today as European money market rates continued to rise strengthening the shared currency. The rise comes after data showed that US consumer sentiment fell to an 11-month low in early July, driving the dollar to a seven-month low against the yen.
The euro was also bolstered by a rise in bank-to-bank lending and smooth government debt auctions in Greece, Spain and Portugal eased investor’s worries about the euro zone’s debt problems.