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On Monday, the euro reached a 23-month peak versus an ailing greenback, putting pressure on equities of EU exporters before weaker-than-expected German business activity suppressed the common currency.
In Asian trade the euro hit $1.1684 before pulling back to $1.1648, tumbling 0.2% on the day. The common currency reached a minimum for the day of $1.1638 after preliminary data demonstrating that in July German private sector surged decreased more than expected.
The common currency’s strength helped to push the greenback – already suppressed by political uncertainty in Washington - to its lowest value in 13 months versus a basket of key currencies.
The common currency has ascended in recent weeks on hopes that the European Central Bank will get down to scaling back its bond-buying monetary stimulus scheme.
On Monday, European equities went down. The exporter-dominated German DAX index lost 0.2%, while the pan-European STOXX 600 index slumped 0.1%, having dropped 1% on Friday as the strong common currency put pressure on earnings.
On Wednesday, Asian equities stood still due to the fact that worries over the outlook for global economic surge as well as the everlasting China-US trade clash kept market participants away from risky assets…
On Tuesday, Asian equities headed south along with crude prices due to the fact that downbeat mood about world surge drove traders away from risky assets…
On Monday, London markets managed to gain due to the fact that traders weighed up the latest China surge data and also waited for UK Prime Minister Theresa May to outline her fresh Brexit proposal to the country’s parliament…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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