Euro Holds Near Two-month High

The European Single Currency,  Euro, on Thursday, November 30, held near a two-month high before European inflation data.

The euro added 0.1 percent to $1.1860 EUR=EBS, poised to gain 1.9 percent for the month though shy of a two-month peak of $1.1961 scaled on Monday.

With euro zone business and consumer confidence hitting their highest since the turn of the millennium, traders will turn their attention to the release of European inflation data for November which will provide a glimpse of whether economic growth is feeding into price pressures.

Sterling was the star performer in early trading with the Times reporting that Britain is close to a deal over the Northern Ireland border issue.

That puts it on track for posting its best three-day rolling performance in nearly two months.

With the Times citing EU sources preparing to offer a two-year Brexit transition deal as early as January, traders bought the British currency though gains were capped after a 2 percent jump from Tuesday’s lows.

Sterling GBP=D3 was up 0.4 percent at $1.3455 in early trades and was just below a fresh two-month high of $1.3480 hit in the Asian trading session.

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