The euro was steady on Thursday after evidence of strength in China improved the...
TOKYO - The euro was steady on Thursday after evidence of strength in China improved the outlook for the global economy, with the market looking next to European indicators to provide the currency with a further boost.
“A recovering Chinese economy is also good news for the German economy, and thus positive for the euro,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.The 10-year German bund yield rose to a one-month high of 0.10 percent overnight, in a sharp rebound from a 2-1/2-year low of minus 0.094 percent at the end of March.
The Purchasing Managers’ Indexes for the manufacturing and service sectors in Europe, due later on Thursday, will provide the next indication of strength for the European economy.
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