Euro Off Lows After German Court Allows ESM

Euro Off Lows After German Court Allows ESM


The euro reversed its direction against other major currencies in early Wednesday European deals after German court voted in favor of the European Stability Mechanism bailout fund.
The euro climbed to a new multi-month high of 1.2902 against the greenback and a 2-day high of 1.2103 against the franc.
The euro is also trading at a 2-month high of 100.46 versus the yen.
Against the pound, the euro is now worth 0.8001, bouncing back from recent low of 0.7993.