Euro Climbs On Easing Catalan Worries
October 11 2017 - 1:07AM
RTTF2
The euro strengthened against its key counterparts in the Asian
session on Wednesday, after Catalan leader Carles Puigdemont
proposed to suspend the effects of independence referendum to seek
negotiations with Spain.
Speaking to Parliament late Tuesday, Puigdemont said the
government is willing to "ask Parliament to suspend the effects of
the declaration of independence so that in the coming weeks we can
undertake a dialogue."
The Spanish government rejected Puigdemont's statement and has
not offered an official response for calls for dialogue with
government.
Prime Minister Mariano Rajoy is holding an emergency cabinet
meeting to discuss the situation in Catalonia.
Investors also awaited the Fed minutes from September's policy
meeting due later today.
The currency has been trading in a positive territory in the
Asian session.
The single currency advanced to a 2-day high of 0.8969 versus
the pound and a 9-day high of 132.97 against the yen, from its
early lows of 0.8939 and 132.69, respectively. The next possible
resistance for the euro is seen around 0.91 against the pound and
134.00 against the yen.
The 19-nation currency climbed to more than 2-week highs of
1.1845 against the greenback and 1.1539 versus the franc, reversing
from its early lows of 1.1795 and 1.1506, respectively. Further
uptrend may take the euro to resistance levels of around 1.19
against the greenback and 1.16 against the franc.
The euro climbed to a 1-1/2-month high of 1.4821 against the
loonie, 4-1/2-month high of 1.5206 against the aussie and a
17-month high of 1.6759 against the kiwi, off its previous lows of
1.4765, 1.5145 and 1.6651, respectively. If the euro rises further,
it may find resistance around 1.49 against the loonie, 1.53 against
the aussie and 1.69 against the kiwi.
Looking ahead, Chicago Fed President Charles Evans speaks on
economy and monetary policy in Zurich.
The Federal Reserve's minutes from the September 19-20 meeting
is due in the New York session.
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