Euro slips down as separatists won in Catalonia

22 Dec 2017 02:18 PM

The euro fell with the start of trading day after the separatists won in the elections held in the province of Catalonia, which was called by the Spanish government after the referendum last October, in which the Catalan voted for their desire to secede from Spain, which is the biggest political crisis in nearly four decades, Fears of the possibility of disintegration of the fourth largest economy in the euro area.

The separatist parties have so far won 70 of the 135 seats in parliament, and the euro fell sharply against the US dollar to its lowest level since the beginning of the week at 1.1816.

The US dollar was relatively stable today, after four consecutive days of decline, the dollar index reached to its lowest level since the beginning of December at 94.74, after the fears of the closure of the government has disappeared, as the Senate approved a bill to finance the government until January 19, and the bill waiting Trump signature.

Congress approved yesterday the most important tax reforms in the United States over the past 30 years, Trump has achieved his first legislative victory since he entered the White House, and is the law expected to add to the economic growth, which is going steady so far.

With the start of trading today, the British pound fluctuated between rising and falling, after the data showed that the British economy grew by 0.4% in the third quarter, unchanged from the preliminary reading, while the annual growth was adjusted to 1.7% from 1.5%.

Bitcoin lost more than a third of its value to trade below $13,000. The digital currency reached record levels over the past few days and reached $20,000 on some platforms but has since fallen to record the worst performance this week since April 2013.

Markets are looking for the release of core personal consumption expenditure  data from the US, the Fed's preferred indicator of inflation, and is expected to rise by 1.5% in November from 1.4% in October.

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