Euro Rises Before ECB Meeting, But Rally May Be Short-Lived
The euro rose today as the Governing Council of the European Central Bank will meet tomorrow and may find solution to the continuing problem with the
The President of the ECB
EUR/USD went up from 1.2981 to 1.3068 as of 10:09 GMT today. EUR/JPY jumped from 108.64 to 109.47.
If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.
Tags
Categories
Earlier News About the Euro:
- Euro Falls After Ireland Receives Bailout (2010-11-29)
- Euro Slips on Strikes in Portugal & Ireland (2010-11-25)
- Euro Slumps as Worries About Debt Crisis Reemerge (2010-11-23)
- Concerns for European Debt Undermines Euro's Strength (2010-11-22)
- Euro Rises as Bailout May Prevent Spreading of Ireland's Problems (2010-11-18)
1 Comment
As for the euro’s future it raises temporarily due to the bond buying program. We saw the market dynamic, last month’s high was 1.4281, and according to the technical analysis it may reach 1.3990 till the end of the year. But as for the fundamentals the euro is still in problematic situation as Euro zone Banking system is not stable. On the other hand, according to Jean Claude Trichet’s speech, the euro zone countries recovery is not lagging compared to the US and Japan economy recovery.