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The single currency traded at $1.4287 at 07:45 BST on Friday (May 13th), representing a 0.4 per cent increase, according to Reuters.
These gains have been attributed to the GDP figures released in France and Germany, with the countries enjoying growth of one per cent and 1.5 per cent respectively.
Marcus Hettinger, global FX strategist at Credit Suisse, told the newswire: "The data shows the core euro zone is still growing, so the euro will get further support."
However, he noted that the economic figures for Greece have yet to be released and are unlikely to be strong considering the country's debt-saddled situation.
According to Bloomberg, the GDP statistics in France and Germany far exceeded what analysts were expecting, with median estimates suggesting the nations could make gains of 0.6 per cent and 0.9 per cent respectively.
Posted by Greg Secker
