Catalonia relief pushes euro to two-week maximum

Catalonia relief pushes euro to two-week maximum

On Wednesday, the common currency soared to a two-week maximum versus a broadly weaker greenback on relief that Catalonia just formally declared its independence from Spain without making further steps.

On Tuesday, regional leader Carles Puigdemont dared to make just a symbolic declaration of independence and called for negotiations with Madrid. The given gesture relieved fears of immediate unrest in the EU.

On Wednesday, Spanish Foreign Minister Alfonso Dastis told that there was room for talks within the framework Spain’s existing constitution. However, he stressed that the Calatan leader's speech had turned to be a sort of trick.

On Wednesday, the common currency soared to $1.18345 in early trade, thus demonstrating its strongest reading since September 26.

Financial experts stressed that any moves higher in the common currency will be probably restricted, considering the extent to which it has already leapt versus the greenback – more than 12% so far in 2017.

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