Tuesday saw the common currency of the European Union rise against the majority of its counterpart currencies, pushed up by Germany's release of stronger-than-anticipated economic data about industrial orders, Reuters reports.
The euro is unlikely to hold those gains as the central bank of the region is projected to intervene as a method of spurring the economy. That strategy often draws down monetary units. Industrial orders in the nation hosting the largest economy in the euro zone unexpectedly advanced 2.2 percent to March from February, pushing past projections of losing 0.5 percent.
The euro's gains are unlikely to remain high, currency strategist Alvin Tan with Societe Generale told the news source on Tuesday. He noted the industrial orders data helped spur the euro higher, but he said the regional economy has not been performing very strongly as of late, casting doubt on its strength.
Despite gains against the monetary unit of Japan on Tuesday, the euro was still off its top level in three years, which it established in April.
The past 180 days have seen the euro climb 4.1 percent, according to Bloomberg.
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