Recovery in US hits euro/dollar sentiment

THERE is increasing confidence that recovery in the US is pushing euro/dollar sentiment in both directions.

Prior to New York opening yesterday the euro lost ground to the dollar, but recovered in afternoon trading. Having been worth $1.1260 in early trading based on US recovery sentiment, the dollar lost ground in the afternoon on the back of the same sentiment.

By late afternoon the euro climbed to $1.1340 as US investors sold the dollar.