The euro advanced today, rising for the second session versus the Japanese yen, as signs of improving manufacturing in the eurozone added to hopes about today’s summit, resulting in a positive market sentiment.
The eurozone manufacturing Purchasing Managers’ Index rose from 45.4 to 46.2 in November, reaching the highest level in eight months. The index still indicated a decline, but at least with slower pace. German and French manufacturing also improved. The European Union summit is held today and traders are hopeful about this meeting.
EUR/USD rose from 1.2827 to 1.2848 as of 9:57 GMT today. EUR/JPY climbed from 105.86 to 106.19 and its daily maximum of 106.56 was the highest since April 27.
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