The Euro rose today to its highest level of 1.24, its highest level in three weeks, supported by the return of risk appetite following China's growth data and fears of further US military attacks in Syria has receding before the German sentinment in the economy fell, which sent EUR down to 1.2350.
The euro took advantage of the weakness of the US dollar following Trump's comments on Russia and China reducing the value of their currencies, pushing the EURUSD to 1.2413, its highest level since March 28. Against the Japanese yen, the dollar fell to 106.87 its lowest level since April 12, ahead of Trump meeting with Japanese Prime Minister Shinzo Abe.
China's economy grew by 6.8 percent in the first quarter of 2018, slightly higher than the 6.7 percent forecast, but remained unchanged from the fourth quarter of 2017.
On the other hand, British wage data, which came below expectations, led the British pound to retreat from its highest level since the EU membership vote in 2016 at 1.4375. Wages, including bonuses, rose by 2.8% in the three months to February.
