LONDON - The euro gained on Friday in a move dealers said may have be driven by anticipated currency demand arising from a Japanese bank’s plans to purchase a German multi-billion dollar aviation finance business.
Markets are often quiet in the hours before European trade opens and thin liquidity has in recent months caused sudden jolts or “flash crashes” in major currencies including the Swiss franc. The euro rose 0.35 percent to $1.1289 after touching $1.1294, its highest since March 26. The common currency also advanced about 0.4 percent to 126.23 yen, its strongest since March 21.
Pressured by the stronger euro, the dollar index against a basket of six major currencies was down 0.2 percent at 96.991, giving up most of the previous day’s gains.
Currency manipulation much?
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