The euro has been the strongest major currency during the past trading week. The currency weakened a bit by the weekend but kept gains against its most traded rivals nonetheless.
There were several reasons for the euro’s rally. One of them was the data that had shown inflation in Germany as well as in the whole eurozone. Another was the surging German bond yields.
The shared 19-nation currency trimmed its gains by the end of the week as Greece had taken the rarely-used option of bundling its repayment of loan to the International Monetary Fund, which should have been done by June 5, with other three payments to postpone it till the end of the month. The better-than-expected US non-farm payrolls have hit the currency too. Still, the euro was able to end the week above the opening level.
EUR/USD rallied from 1.0984 to 1.1110, reaching the high of 1.1379 over week. EUR/GBP went up from 0.7177 to the weekly high of 0.7385 before closing at 0.7276. EUR/JPY gained from 136.28 to 139.59.
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