The Euro toady was able to climb against its US Dollar today following strong Growth Domestic Product data in Germany and in France. This had reinforced expectations for a much healthier economy in the Eurozone , while the interest rates would remain higher than the ones in the United States.
In addition a report showing that U.S. consumer prices rose as they were expected to in April, due to higher food and energy prices contributed to the Dollar becoming weaker as there was barely any evidence of inflation that would create a headache for the federal reserves. Following the data the EURUSD rose to a 1.4340 2day high.
However later in the day the Euro started dropping again following a very steep downward movement. The result of this move was the EURUSD pair to reach as low as 1.4065 which was previously seen in April the 1st. The main reason for this drop is investors refocusing on the Eurozone debt issues ahead of meetings by finance officials in Brussels.