Euro fell against a basket of global currencies, down from a four-week high against USD, with a marked correction and profit taking in the first four-day loss as US currency recovered against most major and minor currencies, After strong economic data from the US, amid renewed concerns about falling emerging market currencies.

EURUSD was down 0.21% at 08:25 GMT, trading at $ 1.1670, the opening price of $ 1.1694 and a high of $ 1.1697 and a low of $ 1.1663.

Euro ended yesterday’s trading up 0.15% against USD, its third consecutive daily gain, recording a four-week high of $ 1.1733.

Euro gained 1.6 percent against the dollar last week, its second consecutive weekly gain, and the biggest weekly gain since January, as the US currency was widely sold.

The dollar index rose about 0.2% on Wednesday, about to achieve its first gain in four days, to bounce from a four-week low of 94.32 points, reflecting the recovery of the US currency against a basket of major and secondary currencies.

The recovery of US currency levels comes after strong data from the United States showed that consumer confidence in the world’s largest economy rose in August at its highest pace since October 2000, with optimism for growth and job growth.

USD purchases have been relatively active with renewed concerns about the fall of emerging market currencies. The collapse of the Turkish lira has recently triggered a wave of panic among the European banking sector, especially after the ECB warned of the impact of the lira on European banks and the economy in the euro area.