Forex Top Story Euro Hits 14-Month High Versus Dollar

(RTTNews) - The euro maintained its recent gains versus the dollar and yen as global stocks saw further strength, adding to risk appeal. With the rally, the euro moved to its best level in more than a year versus the dollar.

The Eurostat said in a report today that the Eurozone industrial production decreased 15.4% year-on-year in August, compared to the 15.9% fall in the previous month Economists expected a decrease of 15.5%.

On a monthly basis, industrial production climbed 0.9% in August, faster than the 0.2% growth in July, revised from 0.3% decline reported initially. Economists were looking for an increase of 1.2%.

The euro leveled off against the dollar after reaching a 14-month high of 1.4919. The European currency has been trending higher throughout October.

In the U.S., a Labor Department report showed that retail sales fell 1.5 percent in September following a revised 2.2 percent increase in August. With the monthly decrease, retail sales in September were down 5.7 percent compared to the same month a year ago.