Here are the factors in the euros rise above $1.20

Investing.com - The euro rose above $1.20 on Tuesday for the first time in 2½ yearsThe euro has risen around 14% against the dollar so far this year,on hopes that the ECB will soon announce plans to taper stimulus.The euro was also buoyed by ECB President Mario Draghi’s speech at Jackson Hole.His lack of comment on the strong euro was seen as an indication that it would continue to rise.The dollar has been hit by a combination of political and economic concernsThe euro also hit 8-year highs against the pound this week,on the back of the diverging economic outlook for the euro zone and the UK,and its implications for monetary policy.The strong euro is a headache for the ECB due to its impact on inflation,at a time when it is about to start scaling back stimulus.