The Euro zone’s currency advanced against the US Dollar on Monday on continuously growing surplus trend in the Eurozone’s current account. EUR/USD showed strength and moved upwards 10 pips, or 0.08%, and continued rising with enough momentum to reach the 1.2417 level.
In December, the single currency bloc has recorded a €29.9B surplus, while economists expected to see it at €30.5B. Euro zone’s current account surplus was 3.5% of the Euro area GDP over the past 12 months, compared with 3.4% a year earlier; however, this figure remained quite stable over the span of past two years. In its monthly release, the ECB also reported that November’s unadjusted surplus has increased from €40.1B to €45.8B.
