Euro holds around highest in three and half months

Euro lingered above 1.0900 mark against the US dollar today, holding onto its gains amid mostly firm risk appetite. A plunge in the US dollar yesterday boosted the single currency as it consolidated around highest in three and half months against the US dollar. Meanwhile, European stocks edged up modestly. German DAX index added 0.25% while French CAC rose 0.77%. UKs FTSE100 moved up 0.22%. Dollar has been hit after price rises in the US cooled in June. Consumer price inflation rose 3% over the 12 months to June. It marked the third month in a row that inflation has fallen, potentially clearing the way for the US central bank to cut interest rates as soon as September.

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