The euro surged to its highest level in 17 months against the U.S. dollar on Wednesday (Thursday morning GMT ) , surpassing the $ 1.39 level as traders more confident over the eurozone economy .
Analysts said that despite the euro zone industrial production fell 0.2 percent in January from December , marking speed improvement and it is consistent with the pace of economic improvement .
At 21:00 GMT (Thursday , 4:00 pm ) , the euro was at 1.3904 dollars , compared with 1.3863 dollars late Tuesday.
During the trade the euro had reached 1.3915 dollars , the highest 17 - month high reached on Friday .
The euro rose against the Japanese currency , be 142.85 yen from 142.73 yen , while the dollar fell to 102.75 yen from 102.95 yen .
The British pound was flat at 1.6618 dollars , while the dollar slipped to 0.8736 Swiss francs from 0.8776 francs .
" Although disappointing , a slight decline ( industrial output ) in January does not conflict with the message constructive surveys of manufacturing , " said Marco Valli , an economist at UniCredit .
" There appears to be room for industrial production to catch up the data is weak in the coming months , " he said , estimating the first -quarter growth in the euro zone at 0.4 percent from the previous quarter , according to AFP .
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