Mubasher: The Eurozone’s current account surplus widened more than expected in January, marking its highest level in 4 months.

The surplus reached EUR 37.6 billion during the first month of 2018, up from EUR 29.9 billion in December, data by the European Central Bank (ECB) showed on Thursday.

Economists had expected a much slighter expansion to EUR 30.2 billion in January.

The current account surplus accounted for 3.6% of the euro area’s gross domestic product (GDP) in January, compared with 3.3% in the same month the prior year.

Meanwhile, combined direct and portfolio investment recorded net acquisitions of EUR 122-billion assets and net incurrences of liabilities worth EUR 80-billion, according to the ECB data.

By 10:02 am GMT, the EUR/USD pair edged down 0.04% to $1.2333.