Euro Falls as Greece Takes Headlines Again, Rebounds
The euro fell yesterday as fears about Greece’s exit from the eurozone resurfaced, driving investors away from the shared European currency. Today, the euro managed to pare its losses and gained against other majors.
Greece’s Prime Minister Antonis Samaras are going to meet other European leaders to convince them to ease the terms of the aid. Additionally, Greece may ask for another tranche of the bailout. The problem is that Germany’s leaders signaled that they are not going to scale down demands for Greece.
The euro also weakened on speculations that the Swiss National Bank sold the currency to boost its holdings for the Great Britain pound. Analysts predict that today’s report would show that eurozone inflation was stable last month. Such expectations play in favor of the euro.
EUR/USD was at about 1.2294 as of 2:14 GMT today, following yesterday’s drop from 1.2317 to 1.2286. EUR/GBP traded near 0.7838, following the decline from 0.7856 to 0.7838. EUR/JPY edged up from 97.02 to 97.30.
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Earlier News About the Euro:
- Euro Gives Up Gains as US Economy Shows More Strength (2012-08-14)
- Euro Advances, Is It Able to Keep Gains? (2012-08-14)
- Uneventful Week of Trading Not Good for Euro (2012-08-11)
- Uncertainty Sends Euro Lower (2012-08-09)
- Euro Slips as Traders Await Central Bank Moves (2012-08-08)