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EURUSD upside limited despite German growth
As Germany sees a 0.4 percent rise in Q4 GDP, Saxo Bank’s Mads Koefoed explains that the valuation of euro dollar - which is currently trading at 1.3750 - is starting to look a bit stretched.
The latest figures out of Germany showed exports helped boost growth; foreign sales rose 2.6 percent in the final three months of 2013. But Mads reckons that with business confidence at the highest level in two and a half years and unemployment at a record low, German consumers will be the ones who continue to keep the growth momentum going throughout the year.
Last week, data showed that the euro-area economy expanded 0.3 percent in the fourth quarter.
01:54 minutes
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