Market Analysis

Market wrap: Euro strengthens as traders pile on rate cut bets

The euro is having its best week of the year trading at $1.0947 to the dollar

The Iseq All Share was broadly unmoved on Friday up 0.2 per cent to end the week 1.4 per cent higher. Picture: Johannes Eisele

The euro jumped on Friday to leave it trading at its best week of the year as traders began betting the Federal Reserve and the European Central Bank will cut rates at the same time.

The euro is up more than 1 per cent against the dollar this week, trading at $1.0947 by close of European markets. It received a boost after a mixed report from the US on Friday escalated anticipation of a rate ...