Futures Market News
Euro slips from 30-day highs against the dollar
Oct 18, 2012 11:58 AM
The euro's slippage was tempered by strong sales at a Spanish government bond auction as the Iberian nation is still expected to pursue bailout aid to rescue its hobbled banking sector. The value of the euro on Wednesday pushed to its highest in about four weeks against the U.S. dollar.
So too did the euro push to one-month highs against the Japanese yen on Wednesday, which was just below the highest value in four months against the monetary unit of the Pacific Rim nation. Drivers of the euro's climb include strong economic data released by the U.S. and China, the globe's two top economic systems.
China's third quarter of this year saw development and growth advance 7.4 percent as compared to the same period last year. Housing starts last month in the U.S. advanced more rapidly than any time in the past four-plus years.
The Wall Street Journal reports Chinese economic data also proved to be beneficial for the monetary units of the U.K. and Australia on Thursday.
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