Euro Stable After Catalan Independence Referendum

Political crisis in Spain led to worries among investors and drove prices for European assets down. Yet the euro was showing muted reaction to the news so far.

Catalonia held a referendum about independence from the rest of Spain, which resulted in an overwhelming yes vote. The Spanish government called the referendum illegal and initiated a harsh crackdown on the Catalan separatists. For now, the euro was either flat or just slightly down against its rivals.

EUR/USD dropped from 1.1789 to 1.1741 as of 9:52 GMT today. EUR/CHF traded at 1.1404 after opening at 1.1416.

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