The European single currency extended previous session's uptrend against major currencies during New York trading on Wednesday. Currently, the euro is trading near 0.9049 against the British pound, 132.95 versus the Japanese yen, 1.3296 against the US dollar and 1.5239 versus the Swiss franc.

On the economic front from the euro area, Germany's Federal Statistical Office announced today that the trade surplus stood at EUR 8.7 billion in February, up from EUR 7 billion surplus recoded in the previous month. Economists had expected the surplus of EUR 7.5 billion.

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