Published by Mark Smith-HalvorsenSigns that the global economic recovery is improving has supported an early rise in the euro in today's trading on the foreign exchange market, as demand for safer assets such as the dollar waned.The single currency neared a two-month high in Asian trading after inflation figures supported the view that a rate hike is imminent, Reuters reports.Provided the situation in Egypt does not spread to neighbouring, oil-producing, countries, the euro could rise further against the dollar in the coming weeks, some unnamed forex dealers told the news provider.Stronger growth supports appetite for risk, which weighs on the safe haven currencies of the dollar and the yen.The dollar dropped against a number of its key partners in today's early trade. Suggestions that the Bank of England could raise interest rates this year helped sterling to rise against the greenback.Despite the signs of stronger growth, some analysts have shown doubt over how long the euro rally will last, Reuters reports, noting that concerns about sovereign debt crises affecting member countries could come to the fore once again.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site