The common currency of the European Union rose to its top rate against the world's reserve currency on Thursday as policy makers with the central bank showed support for the region's economic recovery, according to Bloomberg.
The shared currency was propelled higher by officials with the ECB when they met on Thursday of last week. They opted to leave interest rates at the record-low level of 0.25 percent. One bank official said at a conference this week that the recovery since the ravages of the sovereign debt crisis has been healthy.
"Almost two years on, the situation has improved distinctly," ECB official Peter Praet said during a Wednesday conference in Frankfurt, according to Bloomberg. "Markets are slowly but consistently re-integrating. Production and incomes are growing again and growth is spreading visibly to the most stressed parts of our union."
The 18-nation monetary unit increased roughly 0.3 percent against the U.S. dollar after pushing to its top value since October 2011 against the greenback earlier on Thursday.
A strong inflow of capital to the region to address the debt of weaker member nations has benefited the euro's performance thus far in 2014, according to Reuters.
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