Wads of euro banknotes are stacked in a pile in this July 22, 2013 file photo. REUTERS/Leonhard Foeger
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The euro has been redrawing the global currency map on its journey to multiyear highs.The euro has strengthened against 26 of its 31 major peers, with only the Mexican peso, the Czech koruna, the Polish zloty, the Hungarian forint and the Swedish krona withstanding its advance.The PoundThe common currency has risen about 7 percent against the pound this year, its biggest gain versus a G-10 peer after the dollar.ScandiesGoldman Sachs is betting the Swedish krona and Norwegian krone will gain against both the euro and the pound during the remainder of the year as the countries' central banks tighten policy sooner than markets anticipate.Turkish LiraThe lira lost around 10 percent of its value against the euro this year.Rabobank strategist Piotr Matys expects the currency to continue to trade just above 4 per euro in the coming months, saying that scope for any gains depends mostly on how the single currency and lira fare against the dollar.While most economists and the forward markets expect the euro to maintain its uptrend versus the dollar in this and next year, the peso is expected to weaken past 18 per dollar by the end of the year and stay that way in 2018, from 17.725 per dollar now.
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