Against a basket of currencies, in which the euro is the most heavily weighted, the US dollar index stood firm at 108.9, attempting to breach a two-decade high of 109.29 hit in July.
At the time of writing the pair are currently trading at around $1.2135.
Euro (EUR) Supported by Upbeat German Business Confidence
The Euro found itself gaining today following data from the German Ifo Business Climate indicator for February.
The Ifo Business Climate rose to 92.4, beating forecasts of 90.3 and is the largest increase in four months.
As a result of the data, Euro investors become increasingly optimistic about the outlook of the Eurozone’s economy and its recovery from the coronavirus pandemic.
Carsten Brzeski, an analyst at ING, commented on the data:
‘The latest Ifo index numbers show that optimism has returned to the German economy as many businesses seem to have joined financial markets in looking through any adverse short-term effects from ongoing lockdowns and the slow start of the vaccination rollout.’