Euro extends rebound from two-week low

Euro rose in European trade against dollar away from two-week lows on strong Chinese data, which bolstered risk appetite in markets. 

 

USD/JPY rose 0.2% to 1.1737, after closing up 0.1% on Friday away from two-week lows at 1.1688. 

 

EUR/USD lost 1% last week, the first weekly loss in three as investors bought up the greenback on haven demand. 

 

Back then, hopes for US stimulus fades before the presidential elections while a second coronavirus wave ravages the US and UK. 

 

The dollar index fell 0.2% on Monday for another session against a basket of major rivals. 

 

Earlier Chinese data showed GDP growth at 4.9% in the third quarter, up from 3.2% in the second quarter. 

 

China's industrial production rose 6.9% in September, improving from 5.6% in August, while retail sales rose 3.3%, improving from 0.5%.


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Posted By laraparker : 20 October, 2020
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