Euro continues to strengthen against dollar due to recovery optimism » WireUpdate Local | Local Breaking News | Local Breaking Wire -

The Euro continued to strengthen against the U.S. dollar as investors and markets found more confidence and optimism in Europe's economic recovery, the European Central Bank (ECB) announced.

The recovery was possible due to backing comments, the latest made by ECB President Jean-Clue Trichet who confirmed that the ECB will continue to offer three-month emergency loans until September. The Euro finished Thursday on 1.2095 dollars, rising from 1.1986 on Wednesday.

"Decisions were taken recently, which were difficult to foresee by observers and markets only a few months or weeks ago: a negotiated fully-fledged adjustment program for a member state, a €80 billion support loan by member states for that program, and a €440 billion financial stability facility, on top of a €60 billion existing facility," Trichet said.

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