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Euro Stays Higher Against Dollar After Inflation, Jobs Reports

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July 1 (Bloomberg) -- The euro stayed higher against the dollar and the yen after reports showed inflation in the euro area accelerated while unemployment rose.

Europe’s common currency advanced 0.3 percent to $1.3042 at 10:07 a.m. London time, and gained 0.7 percent to 129.88 yen.

The annual inflation rate in the euro area rose to 1.6 percent last month from 1.4 percent in May, the European Union’s statistics office in Luxembourg said in a preliminary estimate today. That’s in line with the median of 40 economists’ estimates in a Bloomberg News survey.

The euro-area unemployment rate rose to 12.1 percent from a revised 12 percent in April, a separate report showed. Link to Company News:{2539Z GR <Equity> CN <GO>}

To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net

To contact the editor responsible for this story: Peter Woodifield at pwoodifield@bloomberg.net

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