The euro is consolidating gains as the economic picture brightens in the Eurozone. The single currency remains above $1.46 after climbing to year highs of $1.4766 last week. The euro gains come amid broad dollar weakness on increasing risk appetite as confidence in the global economy improves and continuing signs of recovery in the Eurozone. The pace of the Region's job losses moderated as employment fell -0.5 in Q2'09 from -0.8 previously. Industrial production also showed improvement, declining -0.3% in July from -0.6% earlier. Expressing the increased optimism on the economy, ECB member Axel Weber said the economic freefall had ended but recovery would be bumpy and take time.