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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