The Euro continued to rise against the dollar on Wednesday morning. The common currency traded at $1.1334 in early trading. This is about half a cent higher than on Tuesday evening.
The Euro is recovering from its setback from early last week. The exchange rate is approaching the multi-year high of $1.1573. This high was reached in mid-April following tariff disputes triggered by US President Donald Trump.
A week ago Monday, the Euro temporarily fell below $1.11 due to progress in the trade war between China and the United States. Recently, doubts have increased about whether the detente between the two countries is sustainable. Since Trump's inauguration in January, the Euro has been on the rise, with the dollar depreciating by ten percent due to his erratic economic and tariff policies.
No market-moving economic data is expected on Wednesday.