Euro Climbs to Highest in Almost Two Years on EU Deal Enthusiasm
- The currency is rising alongside the region’s stock markets
- Stimulus agreement has changed euro fundamentals: Rabobank
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The euro rose to its highest since October 2018 against the dollar as the European Union’s agreement on stimulus spurred renewed demand for the region’s assets.
The currency advanced as much as 0.5% to 1.1584 as of 7:35 a.m. in New York as traders absorbed the impact of the accord, which allocates 750 billion euros ($860 billion) to pull European economies out of the worst recession in memory, and tightens the financial bonds that hold the 27 nations together.