Euro Stable as Catalonia’s Struggle for Independence Continues

The euro was stable today as the story of Catalonia’s fight for independence continued to unfold.

Catalan President Carles Puigdemont stopped short of announcing formal independence, saying he wants to leave doors open to negotiations with the Spanish government. Instead of talks, Spanish Prime Minister Mariano Rajoy threatened to initiate the Article 155 of the constitution, which would suspend Catalan autonomy and allow Madrid to take direct control over the region. For now, markets were not disturbed by the news, and the euro was trading either sideways, or even little higher against some peers.

EUR/USD traded at 1.1825 as of 11:53 GMT today after opening at 1.1906. EUR/GBP gained from 0.8941 to 0.8966.

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