The European Single Currency, euro, surged by 0.4 percent to $1.2280, on Friday, January 19, after hitting a three-year peak above $1.2300 earlier this week on expectations that the European Central Bank would take steps towards winding back on stimulus measures to normalize monetary policy.
The euro’s rally was tempered later as some ECB officials voiced worries about the currency’s strength.
China’s yuan CNY=CFXS meanwhile breached the psychologically important 6.4 dollar level for the first time in more than two years the day after Beijing said annual growth was 6.8 percent in October-December, slightly above forecasts.
In Europe, equity markets opened firmer with the exception of London’s blue-chip FTSE stock index .FTSE. Germany’s Dax index was 0.5 percent higher on the day .DAX and France’s benchmark index was up 0.1 percent .FCHI.
In Europe, equity markets opened firmer with the exception of London’s blue-chip FTSE stock index .FTSE. Germany’s Dax index was 0.5 percent higher on the day .DAX and France’s benchmark index was up 0.1 percent .FCHI.
Meanwhile, the dollar index, which measures the greenback’s value against other major currencies, was down 0.3 percent at 90.230 .DXY and close to three-year lows hit this week. It has already lost 2 percent in the early days of 2018.
