London — European shares rose for the fourth straight session on Thursday and the euro perched at a two-month high, as businesses returning to work and a €750bn EU stimulus plan outweighed rising US-China tensions.
The euro enjoyed the view at $1.1016, having risen to a two-month high. It also held at the near three-month high it had hit compared to the neighbouring Swiss franc the previous day, while the dollar was largely quiet. “This feeds directly into our expectations for European risk assets to outperform, which will be further helped by a likely expansion of European Central Bank quantitative easing next week.”
“All eyes remain on the US-China relationship,” said Chris Weston, the head of research at Pepperstone, a currency broker. “This is a risk for markets ... One questions if the equity markets are too complacent here.”
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