Euro climbs on integration hopes as Trump furor knocks dollar
Source: Reuters
Tue May 16, 2017 | 8:33am EDT
By John Geddie | LONDON
The euro hit a six-month peak and German stocks touched a record high on Tuesday as signals on further European integration contrasted with political turmoil and fresh doubts about the economy in the United States.
The euro's rally was reinforced by dollar losses prompted by allegations that U.S. President Donald Trump disclosed highly classified information to Russia's foreign minister about a planned Islamic State operation.
That conspired with doubts over Trump's economic policy and a run of weak data to dampen expectations of a rate hike from the world's biggest economy next month. Wall Street was set to open flat.
Eurozone markets were meanwhile buoyed by robust growth data and talks between Germany and French leaders which sought to reinvigorate a European project shaken by Britain's planned exit and may even open the door to changing treaties to facilitate ambitious reform.
Read more: http://www.reuters.com/article/us-global-markets-idUSKCN18C017?il=0
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