Euro Rises to Highest level in Four Months

Today, the single European currency rose to its highest level in more than four months against the dollar, amid hopes of reaching an agreement on a recovery fund for the European Union’s economies, which amounts to 750 billion euros, of which 390 billion euros can be provided as grants.

EU Council President Charles Michel said he was confident that his new proposal for European leaders, which included a grant of 390 billion euros and 360 billion euros of loans, could be the basis for a deal that many say is important to dispel doubts about the future of the European Union itself.

The euro rose 0.12% against the dollar to record the European single currency $ 1.1441 after recording a four-month high of $ 1.14675 and the main dollar index, which measures the currency's performance against 6 major currencies, fell to 95.826.