EUR/USD week 45

The euro extended gains to trade around $1.185 on Friday, having touched its strongest level since October 23rd the day before, as investors dumped the dollar and turned to riskier currencies as they wait for the US election results. Democrat Joe Biden took the lead in Georgia and closed President Donald Trump’s lead in the key swing state of Pennsylvania, while Arizona, Nevada and North Carolina are also counting votes. Investors also remained concerned about the negative impact of new restrictive measures on Europe’s recovery with data from Germany showing industrial production growth came in weaker than expected in September.

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