Euro posts best month in over a year; US jobs data eyed
NEW YORK (REUTERS) - The euro rose to a 14-month high against the dollar on Thursday, heading for its best month in over a year as signs of recovery in the euro zone's economy set the currency on a bullish trend.
The yen fell to a 2-1/2-year low against both the United States (US) dollar and euro, extending its recent decline on expectations of further monetary easing in Japan.
The dollar was on pace for a monthly gain of 5.3 per cent versus the yen. The euro rallied for a sixth consecutive month against the yen, rising 8.3 per cent in January, which marked its the best month since February 2012.
Trading grew choppy as the session came to a close as investors prepared their books for month-end positioning and for US jobs data on Friday.