EUR: Greenland ‘deal’ boosts euro

The euro gained more than 3% against the dollar last week, surging on Friday evening as the Trump/Greenland mood turned more doveish. The latest eurozone PMI snapshot continued to signal expansion, with services doing most of the heavy lifting while manufacturing only edged forward. Crucially, the commentary flagged higher selling-price inflation driven by German wage changes – the sort of detail to worry the ECB. Coming up today the Ifo Business Climate reading.

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