Euro hits six-week maximum on surge outlook optimism

Euro hits six-week maximum on surge outlook optimism

On Friday, the common currency reached a six-week maximum versus the evergreen buck, with traders optimistic about the strength of the euro zone's revival after firm economic data this week.

Since Monday the euro has gained approximately 0.7%, putting it on course for a third straight week of revenues versus the US currency.

The common currency had started the trading week on the back foot, affected by political uncertainty in Germany as coalition negotiations didn’t appear to be successful. Nevertheless, the euro recovered rapidly because traders focused on a robust surge outlook for the EU, while the greenback dipped broadly.

Issued on Thursday, the minutes from the ECB’s recent policy gathering showed that policymakers had generally agreed on extending the quantitative easing at a lower level, although a decision to keep the asset purchases open-ended generated fiercer debate.

In London trade the common currency hit $1.1865, which is its strongest outcome since October 13.


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