Resurgent euro signals end of the ECB’s quantitive easing era

Resurgent euro signals end of the ECB’s quantitive easing era
Mario Draghi, president of the European Central Bank Pic: Getty

Although its future is far from certain, the eurozone economy is clearly headed in the right direction, writes Tom McCabe

One of the most prominent investor themes in 2017 has been the remarkable recovery of the euro on foreign exchange markets. Over the summer, it broke through $1.20 versus the US dollar, territory last seen in early 2015.

Against the dollar, the euro has gained a remarkable 12 per cent in 2017 while on a trade-weighted basis against a basket of currencies, it is up 7 per cent.

Not bad for a currency that was being written off a few years...

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