Far from 'devalued', euro surges as trade war hits yuan

World News: . []

Far from 'devalued', euro surges as trade war hits yuanIf evidence is needed of how far ripples from the Sino-U.S. trade war are reaching, have a look at Europe where the yuan's slump is driving up the euro's value against trade partners' currencies, handicapping the export-reliant bloc's economy. Contrary to U.S. President Donald Trump's grumbles about a 'devalued' euro handing the region's exporters an unfair advantage over U.S. rivals, the euro has risen to five-month highs versus trading partners' currencies, an index compiled by the European Central Bank shows. Since Trump took office in early 2017 the index, which measures the euro's weighted average against a basket of the bloc's 19 main trading partners, has risen 4%.

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