The euro rose against the dollar after the IMF lowered its forecast for global economy

On Tuesday, the International Monetary Fund cut its global growth forecasts for 2016 by 20 basis points to 3.4%, marking the third decrease in the last year. The message was announced hours after the National Bureau of Statistics of China said that the country's economy grew by 6.8 percent in the fourth quarter, growing slower than the previous quarter. The annual GDP for 2015 increased by 6.9%, significantly lower compared with growth of 7.3% a year earlier.

The pair fluctuated between 1.0859 and 1.0938 before closing the day at 1.0907.