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Euro trades quietly this week – BBH

FXStreet (Barcelona) - The BBH Global Currency Strategy Team observes that the euro has traded quietly this week, stuck in a little more than a one cent range ($1.2395-1.2510).

Key Quotes

“Today's preliminary release of Q3 GDP figures have contained some minor surprises but provided little in the way of fresh trading incentives.“

“The eurozone economy expanded by 0.2% in Q3. To say this was double the pace of the consensus forecast does not do it justice. Second quarter growth was revised to 0.1% from a flat report initially. This lifted the year-over-year pace to 0.8%, where it remained in Q3.“

"The dollar is trading on the strong side against the majors, especially against the yen. The sterling continues to drift lower, now at $1.5670. The dollar rose to ¥116.40 against the yen."

"In the EM space, the ruble continues to lose ground with the basket close to, but not quite at the all-time high level seen at the end of last week. Most other EM currencies are trading with a weaker tone, but moves have been modest."

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