Euro comes off session highs as dollar adds further gains Reports Capital Taiyo Trading

Capital Taiyo Trading have said that the single currency pulled back from the Monday’s highs against its major rivals, after strengthening broadly earlier as European geopolitical concerns eased and sapped risk aversion.

The euro found support in early trade from optimism over Athens’s bailout, the prospect of Italy’s snap election and ECB’s boss remarks about better inflation forecasts.

However, the currency came under pressure later in the session after data showing that France’s economy grew at a slower rate in the first quarter than analysts expected.

Another report showed that Spanish GDP contracted by 0.6 percent in the three months to March, down from the preliminary forecasts of 0.3 percent.

In China, data on Monday showed that gobs creation pace dropped to its lowest in more than 15 months in the first quarter, but the jobless rate held steady at a 20 years low.

Sterling pushed lower, with GBP/USD shedding 0.22 percent to 1.2789, but losses were held in check as the retail sales grew sharply in April, reducing political risk ahead of Brexit negotiations.


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