The EURO is finding support
At a time of subdued market activity due to the holiday season, the euro is finding support on the back of good news on the international trading front. The positive feeling towards the single currency, after last week’s losses of 0.5% to the US dollar, follow the announcement that China will cut tariffs on a range of products, starting from the 1st of January. The positive stance of the Beijing authorities in relation to international trade lifted investors’ sentiment towards the euro, as the single currency is particularly exposed to protectionism due to the mercantile openness of its main economies.
Ricardo Evangelista – Senior Analyst, ActivTrades
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