European Single Currency Strengthened as Risks in Catalonia Decreased

The euro rose today after the Catalan leader postponed the recognition of independence from Spain. The leader of the region Carles Puigdemont called for negotiations on the settlement of the political crisis in the country.

A strong export report from Germany also supported the euro. The euro broke back above $1.18 for the first time since the day after the vote, and it rose in Asia and traded at $1.1815 level. Nevertheless, the currency is still close to the recent highs, observed last month.