Euro’s Revival May Be a Positive Sign for Risk Everywhere
- Common currency touched highest since January versus franc
- Recovery expectations boosted by calls for more fiscal action
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Europe’s common currency is signaling a broader shift in risk appetite may be afoot.
The euro climbed to its highest against the Swiss franc since January on Tuesday, a notable change in direction for a currency pair that, weighed down by concerns about the coronavirus pandemic and Italy’s debt load, has spent most of this year sliding. Meanwhile, the correlation between the common currency and European equities is now at its strongest levels since October 2018.