Euro rises to 1-week high on German trade data

London

The currency's rise this year has lost some momentum in recent days as political concerns - notably Spain's Catalan crisis - have grown. The euro has been pushed down more than 3 per cent against the US dollar over the last month but underlying economic data has remained robust.

Tuesday offered more evidence of that with German trade activity picking up in August as exports outpaced imports, adding to evidence that Europe's biggest economy performed strongly in the third quarter, ignoring a stronger euro.