The euro hopped above $1.10 to three-week highs against its buoyancy challenged of late U.S. rival. Signs of improving economic momentum in Europe have worked in the euro’s favor. The euro has also benefited from markets’ receding expectations for a U.S. rate hike. Although the euro has risen above $1.10 in recent sessions, it hasn’t been able to close above it, suggesting markets remain skeptical of its prospects and that it could resume its downswing in the not too distant future, particularly if next week’s U.S. jobs report should knock it out of the park again.
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