Euro hits 4-month high against US dollar

London

THE euro traded close to its highest level in three years against a broadly weaker US dollar on Tuesday, the first trading day of 2018, on optimism over a brightening economic picture in the eurozone.

It finished 2017 with its best year against the US dollar since 2003 as European economies strengthened and expectations the European Central Bank (ECB) will wind down its monetary stimulus grew, boosting demand for the single currency.