The common currency of the European Union drove higher in value on Thursday against the world's reserve currency, pushing to its top level in about three months against its cross-Atlantic rival, according to Bloomberg.
The 17-nation monetary unit climbed against all but two of its top 16 counterparts after France and Germany, the 17-nation bloc's two largest economies, released healthy data about their manufacturing sectors. Confidence is growing about the economic recovery in the euro zone.
Reuters reports the euro has dived nearly 2 percent against the U.S. dollar during the past 21 days. The composite purchasing managers index for the region advanced to 53.2 this month after having checked in at 52.1 last month.
The euro rose about 0.7 percent against the U.S. dollar on Thursday, touching its highest value since the end of October of last year. The euro boosted about 0.4 percent against the Japanese yen.
China, host of the world's second-largest economy, released weaker than expected manufacturing data, according to Reuters. But the strong euro zone data offset those weak returns and instilled confidence about the region pushing past the sovereign debt crisis.
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