Euro gains on optimism that U.S. will reach a deal on new budget

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Source: Bloomberg
© Scanpix/AP
The Euro, 17-nation currency, advanced by 0.3% to 106.60 yen and by 0.2% to $1.2981 in the beginning of London trading session on Thursday. The Euro strengthens on speculations that Barack Obama and Congress will reach an agreement on a new U.S. budget and avoid the fiscal cliff, which most probably would drag the biggest world economy in a recession. Optimism from the U.S. lawmakers increases demand for more risky assets, including the Euro.
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