NOVANEWS
By Arnaldo Rodgers
Proposal by European institutions and the IMF is expected to be presented to Athens soon
BY JOSIE COX
The euro shot up against a host of global currencies Tuesday, spurred by prospects of Greece’s international creditors sending a fresh proposal to Athens, coupled with some robust inflation data.
The bloc’s single currency surged more than 2.5% against the dollar midafternoon, taking it to an intraday high of $1.1195—its highest level in almost two weeks, according to CQG. It also rose more than 1% against the British pound, the Swiss franc and Japan’s yen. The euro was recently at $1.1133.
Figures earlier in the session showed that eurozone consumer prices rose for the first time in six months during May, a victory for the European Central Bank in its campaign to avert a slide into deflation.