The euro traded higher than the dollar at the end of last week following positive EU growth data

The single currency was up half a cent against the dollar on Friday, recovering some of its mid-week losses as investors chose to take profits in the greenback.

• The dollar lost ground against most major counterparts on Friday for the first day in three, with strategists attributing the modest weakness to investors taking profits on the greenback's recent bounce.
  
• In the eurozone, data revealed that German GDP expanded 0.7% in the third quarter and French growth was at 0.3%. Although these figures fell short of market expectations, they confirmed continued economic expansion, which lent support to the euro.
  
• The greenback briefly extended losses after data showed that the US trade deficit widened more than forecast, to $36.5 billion in September, enforcing sentiment that rates would remain low for some time.
  
• The dollar also stayed lower as stocks held onto gains after the Reuters/University of Michigan index showed consumer sentiment unexpectedly declined in early November to its weakest level in three months.
  
• The single currency has continued to climb higher this morning, currently up half a percent to regain its positions just below $1.50.