Business News
Euro rises as markets turn optimistic
Jan 3, 2012, 9:01 GMT
Frankfurt - The euro rose in early trading Tuesday, pulling out of a slump that developed last month and approaching the level of 1.30 dollars.
It rose to 1.2993 dollars shortly after trading began. Monday's European Central Bank reference rate had been 1.2935 dollars.
Analysts said the rise reflected the end of a spell where investors had sought safe haven in the dollar.
Markets were moved by positive economic data emerging from both China and India as well as expectations that the US industrial purchasing managers' index to be issued later in the day would indicate an upswing.
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