Asia-Pacific stocks largely rose early Friday in thin preholiday trade, following an overnight rebound in European equities and mild gains on Wall Street.
But one focus was the euro, which slid in Asian trading this morning after Catalonia’s separatist parties won a majority in their regional assembly. The currency fell as low as $1.1815 but it has since rebounded to $1.1850.
Oanda’s Stephen Innes says further buying will be capped as not many market participants want to carry an open position into the holidays given the risk of the election results bringing a new Spanish crisis.
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