EUR/JPY week 40

The euro strengthened above $1.17 on Tuesday helped by a better-than-expected business survey from the Eurozone, alongside broad dollar weakness as investors look forward to the first US presidential debate between Donald Trump and Joe Biden later in the day. Meanwhile, German data showed the country’s consumer prices dropped in September, the most for over five-and-a-half years and more than expected. On Monday, ECB President Christine Lagarde warned that the public health crisis will “continue to weigh on economic activity and poses downside risks to the economic outlook”. Last week, the euro touched a two-month low of $1.161 as concerns about a second wave of coronavirus infections in Europe sent traders rushing for safety.

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